FY2019 EPS Estimates for AutoZone, Inc. Lowered by Analyst (AZO)
AutoZone, Inc. (NYSE:AZO) – Equities researchers at Gabelli reduced their FY2019 earnings estimates for AutoZone in a research report issued on Wednesday. Gabelli analyst C. Jolly now expects that the company will post earnings per share of $51.25 for the year, down from their prior estimate of $54.65. Gabelli also issued estimates for AutoZone’s FY2020 earnings at $56.95 EPS and FY2021 earnings at $63.25 EPS.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 19th. The company reported $15.18 EPS for the quarter, topping analysts’ consensus estimates of $15.11 by $0.07. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.49 billion. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $14.30 earnings per share.
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A number of other analysts have also recently issued reports on AZO. Deutsche Bank AG lowered their price objective on AutoZone from $800.00 to $650.00 and set a “hold” rating on the stock in a research report on Thursday, May 25th. Citigroup Inc. lowered their price objective on AutoZone from $920.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Morgan Stanley lowered their price target on AutoZone from $825.00 to $680.00 and set an “overweight” rating on the stock in a research report on Thursday, May 25th. Goldman Sachs Group, Inc. (The) upgraded AutoZone from a “neutral” rating to a “buy” rating and upped their price target for the company from $615.62 to $662.00 in a research report on Tuesday, May 30th. They noted that the move was a valuation call. Finally, Wedbush cut AutoZone from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $660.00 to $650.00 in a research report on Tuesday, May 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $747.27.
AutoZone (NYSE:AZO) traded up 2.24% during trading on Friday, reaching $565.87. 229,391 shares of the company’s stock were exchanged. The company has a market capitalization of $15.86 billion, a price-to-earnings ratio of 13.07 and a beta of 0.62. AutoZone has a 52-week low of $491.13 and a 52-week high of $813.70. The stock’s 50-day moving average price is $534.42 and its 200-day moving average price is $611.55.
In related news, Director William Andrew Mckenna acquired 300 shares of the stock in a transaction on Thursday, July 13th. The shares were purchased at an average price of $507.00 per share, for a total transaction of $152,100.00. Following the purchase, the director now directly owns 5,131 shares in the company, valued at $2,601,417. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William T. Giles sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total value of $5,811,000.00. Following the transaction, the vice president now owns 18,500 shares in the company, valued at approximately $10,750,350. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of AZO. First Trust Advisors LP increased its stake in AutoZone by 126.8% during the 1st quarter. First Trust Advisors LP now owns 10,932 shares of the company’s stock worth $7,904,000 after acquiring an additional 6,111 shares during the period. UBS Asset Management Americas Inc. increased its stake in AutoZone by 5.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 111,238 shares of the company’s stock worth $80,431,000 after acquiring an additional 5,695 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in AutoZone during the 1st quarter worth $219,000. Airain ltd increased its stake in AutoZone by 25.7% during the 1st quarter. Airain ltd now owns 7,389 shares of the company’s stock worth $5,343,000 after acquiring an additional 1,509 shares during the period. Finally, Keybank National Association OH increased its stake in AutoZone by 2.8% during the 1st quarter. Keybank National Association OH now owns 1,772 shares of the company’s stock worth $1,281,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 96.08% of the company’s stock.
AutoZone Company Profile
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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