Brokerages predict that AutoZone, Inc. (NYSE:AZO) will announce $2.38 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for AutoZone’s earnings, with the lowest sales estimate coming in at $2.35 billion and the highest estimate coming in at $2.40 billion. AutoZone posted sales of $2.29 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 27th.

On average, analysts expect that AutoZone will report full-year sales of $2.38 billion for the current fiscal year, with estimates ranging from $11.13 billion to $11.37 billion. For the next financial year, analysts forecast that the company will post sales of $11.78 billion per share, with estimates ranging from $11.65 billion to $12.04 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover AutoZone.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 5th. The company reported $10.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $9.90 by $0.10. AutoZone had a negative return on equity of 78.83% and a net margin of 11.66%. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the firm posted $9.36 EPS. AutoZone’s revenue for the quarter was up 4.9% on a year-over-year basis.

AZO has been the subject of several analyst reports. Credit Suisse Group set a $640.00 target price on AutoZone and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Citigroup reissued a “buy” rating and set a $700.00 target price on shares of AutoZone in a research note on Wednesday, September 20th. Zacks Investment Research cut AutoZone from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. UBS Group reissued a “buy” rating and set a $655.00 target price (down from $725.00) on shares of AutoZone in a research note on Wednesday, September 20th. Finally, Barclays boosted their target price on AutoZone from $710.00 to $800.00 in a research note on Thursday, December 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $726.06.

In other news, VP Richard Craig Smith sold 2,700 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $760.00, for a total value of $2,052,000.00. Following the completion of the sale, the vice president now directly owns 4,500 shares of the company’s stock, valued at approximately $3,420,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Albert Saltiel sold 2,150 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $703.09, for a total value of $1,511,643.50. Following the completion of the sale, the insider now directly owns 2,276 shares of the company’s stock, valued at $1,600,232.84. The disclosure for this sale can be found here. Insiders have sold a total of 93,173 shares of company stock valued at $66,316,676 over the last ninety days. 2.60% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of AutoZone by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,899,758 shares of the company’s stock valued at $1,083,735,000 after purchasing an additional 32,542 shares during the last quarter. FMR LLC lifted its holdings in shares of AutoZone by 6.7% in the 2nd quarter. FMR LLC now owns 1,864,473 shares of the company’s stock valued at $1,063,608,000 after purchasing an additional 117,019 shares during the last quarter. State Street Corp lifted its holdings in shares of AutoZone by 5.1% in the 2nd quarter. State Street Corp now owns 1,363,261 shares of the company’s stock valued at $777,679,000 after purchasing an additional 66,734 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AutoZone by 27.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock valued at $764,272,000 after purchasing an additional 282,939 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of AutoZone by 4.4% in the 3rd quarter. Nordea Investment Management AB now owns 1,072,553 shares of the company’s stock valued at $638,287,000 after purchasing an additional 45,458 shares during the last quarter. 99.33% of the stock is owned by institutional investors and hedge funds.

AutoZone (AZO) opened at $787.93 on Monday. AutoZone has a one year low of $491.13 and a one year high of $793.30. The company has a market capitalization of $21,552.25, a price-to-earnings ratio of 17.59, a P/E/G ratio of 1.28 and a beta of 0.71. The company has a current ratio of 0.93, a quick ratio of 0.14 and a debt-to-equity ratio of -3.27.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/01/15/2-38-billion-in-sales-expected-for-autozone-inc-azo-this-quarter.html.

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.

Get a free copy of the Zacks research report on AutoZone (AZO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for AutoZone (NYSE:AZO)

Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with MarketBeat.com's FREE daily email newsletter.