Equities analysts expect AutoZone, Inc. (NYSE:AZO) to announce earnings of $8.36 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for AutoZone’s earnings. The highest EPS estimate is $8.59 and the lowest is $7.70. AutoZone reported earnings of $8.08 per share in the same quarter last year, which suggests a positive year over year growth rate of 3.5%. The company is expected to issue its next earnings report on Tuesday, February 27th.
On average, analysts expect that AutoZone will report full year earnings of $46.63 per share for the current fiscal year, with EPS estimates ranging from $45.20 to $47.53. For the next fiscal year, analysts anticipate that the company will report earnings of $51.08 per share, with EPS estimates ranging from $49.00 to $52.48. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover AutoZone.
AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.90 by $0.10. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. AutoZone had a net margin of 11.66% and a negative return on equity of 78.83%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $9.36 earnings per share.
Several analysts have issued reports on the stock. Credit Suisse Group set a $790.00 price objective on shares of AutoZone and gave the stock a “hold” rating in a research note on Thursday, January 4th. Stephens reissued a “hold” rating and issued 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 decreased their price objective on shares of AutoZone from $577.00 to $571.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 20th. Wedbush reissued a “hold” rating and issued a $580.00 price objective (down previously from $590.00) on shares of AutoZone in a research note on Wednesday, September 20th. Finally, UBS Group reissued a “buy” rating and issued a $750.00 price objective (down previously from $810.00) on shares of AutoZone in a research note on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. AutoZone has an average rating of “Hold” and a consensus price target of $726.06.
Shares of AutoZone (AZO) traded up $14.62 during midday trading on Friday, reaching $787.93. 456,389 shares of the company’s stock traded hands, compared to its average volume of 402,373. The company has a current ratio of 0.93, a quick ratio of 0.14 and a debt-to-equity ratio of -3.27. The company has a market capitalization of $21,152.36, a P/E ratio of 17.59, a P/E/G ratio of 1.26 and a beta of 0.71. AutoZone has a twelve month low of $491.13 and a twelve month high of $793.30.
In related news, insider Albert Saltiel sold 2,150 shares of AutoZone stock in a transaction that occurred on Thursday, December 21st. The shares were 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 of the company’s stock, valued at $1,600,232.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William W. Graves sold 10,500 shares of AutoZone stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $744.78, for a total transaction of $7,820,190.00. Following the transaction, the insider now directly owns 12,574 shares in the company, valued at $9,364,863.72. The disclosure for this sale can be found here. Insiders have sold 93,173 shares of company stock valued at $66,316,676 in the last ninety days. Insiders own 2.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of AZO. Nordea Investment Management AB increased its holdings in AutoZone by 44.9% during the second quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock valued at $585,917,000 after buying an additional 318,188 shares during the period. Koch Industries Inc. purchased a new position in AutoZone during the second quarter valued at approximately $297,000. JPMorgan Chase & Co. increased its holdings in AutoZone by 27.8% during the third quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock valued at $764,272,000 after buying an additional 282,939 shares during the period. Alyeska Investment Group L.P. purchased a new position in AutoZone during the third quarter valued at approximately $141,811,000. Finally, Ameriprise Financial Inc. increased its holdings in AutoZone by 802.6% during the third quarter. Ameriprise Financial Inc. now owns 236,396 shares of the company’s stock valued at $140,681,000 after buying an additional 210,205 shares during the period. 99.33% of the stock is currently owned by institutional investors.
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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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