AutoZone, Inc. (AZO) Forecasted to Earn Q3 2018 Earnings of $12.07 Per Share
AutoZone, Inc. (NYSE:AZO) – Investment analysts at Wedbush upped their Q3 2018 earnings per share estimates for shares of AutoZone in a research note issued on Tuesday. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of $12.07 for the quarter, up from their previous estimate of $12.05. Wedbush has a “Hold” rating and a $580.00 price objective on the stock. Wedbush also issued estimates for AutoZone’s Q4 2018 earnings at $16.60 EPS.
Several other equities analysts also recently issued reports on AZO. Stephens reissued a “hold” rating and set a $550.00 price objective (down previously from $620.00) on shares of AutoZone in a research note on Thursday, September 21st. Royal Bank of Canada reduced their price objective on shares of AutoZone from $577.00 to $571.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 20th. UBS Group reissued a “buy” rating and set a $750.00 price objective (down previously from $810.00) on shares of AutoZone in a research note on Wednesday, December 6th. Citigroup upped their price objective on shares of AutoZone to $820.00 and gave the company a “buy” rating in a research note on Wednesday, December 6th. Finally, Jefferies Group reissued a “hold” rating and set a $720.00 price objective on shares of AutoZone in a research note on Wednesday, December 6th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $717.24.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 5th. The company reported $10.00 EPS for the quarter, beating the consensus estimate of $9.90 by $0.10. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.54 billion. AutoZone had a net margin of 11.66% and a negative return on equity of 78.83%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $9.36 earnings per share.
A number of large investors have recently bought and sold shares of the business. AXA raised its stake in AutoZone by 0.8% during the third quarter. AXA now owns 38,237 shares of the company’s stock worth $22,755,000 after purchasing an additional 300 shares during the period. Burgundy Asset Management Ltd. raised its stake in shares of AutoZone by 0.3% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 592,020 shares of the company’s stock valued at $352,317,000 after acquiring an additional 1,888 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of AutoZone by 3.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,781 shares of the company’s stock valued at $27,245,000 after acquiring an additional 1,483 shares during the period. Gyroscope Capital Management Group LLC raised its stake in shares of AutoZone by 31.6% in the 3rd quarter. Gyroscope Capital Management Group LLC now owns 537 shares of the company’s stock valued at $320,000 after acquiring an additional 129 shares during the period. Finally, IFM Investors Pty Ltd purchased a new position in shares of AutoZone in the 3rd quarter valued at $503,000. 99.35% of the stock is currently owned by institutional investors.
In other AutoZone news, VP Charles Pleas III sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $700.00, for a total transaction of $7,000,000.00. Following the transaction, the vice president now owns 14,377 shares of the company’s stock, valued at $10,063,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Albert Saltiel sold 2,150 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $703.09, for a total transaction of $1,511,643.50. Following the transaction, the insider now directly owns 2,276 shares in the company, valued at approximately $1,600,232.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,973 shares of company stock worth $56,444,486. 2.60% of the stock is currently owned by insiders.
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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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