Analysts Expect AutoZone, Inc. (AZO) Will Post Quarterly Sales of $2.54 Billion
Wall Street analysts predict that AutoZone, Inc. (NYSE:AZO) will post sales of $2.54 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for AutoZone’s earnings, with the highest sales estimate coming in at $2.58 billion and the lowest estimate coming in at $2.52 billion. AutoZone posted sales of $2.47 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.8%. The firm is expected to report its next quarterly earnings report on Tuesday, December 5th.
According to Zacks, analysts expect that AutoZone will report full-year sales of $2.54 billion for the current financial year, with estimates ranging from $11.13 billion to $11.37 billion. For the next financial year, analysts expect that the company will report sales of $11.69 billion per share, with estimates ranging from $11.48 billion to $11.93 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow AutoZone.
AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.11 by $0.07. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.49 billion. AutoZone had a net margin of 11.76% and a negative return on equity of 74.48%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $14.30 earnings per share.
A number of analysts have commented on AZO shares. Bank of America Corporation reaffirmed a “buy” rating and set a $625.00 price objective on shares of AutoZone in a research note on Tuesday, September 5th. Zacks Investment Research raised shares of AutoZone from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Barclays PLC reduced their price objective on shares of AutoZone from $870.00 to $710.00 and set an “overweight” rating for the company in a research note on Thursday, July 6th. Wolfe Research lowered shares of AutoZone from a “market perform” rating to an “underperform” rating in a research note on Monday, July 17th. Finally, BidaskClub raised shares of AutoZone from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $735.85.
Shares of AutoZone (NYSE:AZO) traded up 0.58% during trading on Tuesday, reaching $602.00. 49,387 shares of the company’s stock were exchanged. The firm has a market capitalization of $16.76 billion, a PE ratio of 13.66 and a beta of 0.64. AutoZone has a 52 week low of $491.13 and a 52 week high of $813.70. The company’s 50-day moving average price is $566.57 and its 200 day moving average price is $593.93.
In other AutoZone news, Director William Andrew Mckenna sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the transaction, the director now owns 8,131 shares in the company, valued at $4,756,309.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Alpha Windward LLC boosted its position in shares of AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after acquiring an additional 8 shares during the period. Nippon Life Insurance Co. boosted its position in shares of AutoZone by 0.4% in the second quarter. Nippon Life Insurance Co. now owns 2,022 shares of the company’s stock valued at $1,153,000 after acquiring an additional 8 shares during the period. Cetera Investment Advisers boosted its position in shares of AutoZone by 1.1% in the second quarter. Cetera Investment Advisers now owns 730 shares of the company’s stock valued at $417,000 after acquiring an additional 8 shares during the period. Salem Investment Counselors Inc. boosted its position in shares of AutoZone by 3.5% in the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after acquiring an additional 9 shares during the period. Finally, Bristlecone Advisors LLC boosted its position in shares of AutoZone by 1.2% in the first quarter. Bristlecone Advisors LLC now owns 856 shares of the company’s stock valued at $619,000 after acquiring an additional 10 shares during the period. 96.72% of the stock is owned by institutional investors.
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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