AutoZone, Inc. (NYSE:AZO) Expected to Announce Earnings of $25.90 Per Share

Analysts expect AutoZone, Inc. (NYSE:AZOGet Rating) to report earnings of $25.70 per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for AutoZone’s earnings. The highest EPS estimate is $28.27 and the lowest is $23.25. AutoZone posted earnings per share of $26.48 in the same quarter last year, which indicates a negative year-over-year growth rate of 2.9%. The firm is scheduled to report its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that AutoZone will report full-year earnings of $111.66 per share for the current fiscal year, with EPS estimates ranging from $109.65 to $113.62. For the next fiscal year, analysts anticipate that the firm will post earnings of $121.82 per share, with EPS estimates ranging from $114.11 to $128.96. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that cover AutoZone.

AutoZone (NYSE:AZOGet Rating) last announced its quarterly earnings results on Tuesday, March 1st. The company reported $22.30 earnings per share for the quarter, beating analysts’ consensus estimates of $17.79 by $4.51. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.16 billion. AutoZone had a net margin of 15.44% and a negative return on equity of 109.21%. AutoZone’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the company posted $14.93 EPS.

AZO has been the subject of several analyst reports. Truist Financial decreased their target price on shares of AutoZone from $2,329.00 to $2,215.00 in a research note on Wednesday, March 2nd. Citigroup lifted their price objective on shares of AutoZone from $2,210.00 to $2,250.00 in a research report on Friday, May 13th. Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $2,210.00 price objective for the company in a research report on Tuesday, March 29th. Zacks Investment Research cut shares of AutoZone from a “strong-buy” rating to a “hold” rating and set a $2,096.00 price objective for the company. in a research report on Tuesday, February 8th. Finally, Raymond James lifted their price objective on shares of AutoZone from $2,100.00 to $2,400.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $2,075.11.

In other news, SVP K. Michelle Borninkhof purchased 259 shares of AutoZone stock in a transaction dated Thursday, March 17th. The shares were bought at an average cost of $1,944.66 per share, for a total transaction of $503,666.94. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Philip B. Daniele sold 100 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $1,890.00, for a total value of $189,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,682 shares of company stock valued at $16,146,334. Insiders own 2.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in AZO. Royal Bank of Canada grew its holdings in shares of AutoZone by 368.0% during the first quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock worth $841,242,000 after purchasing an additional 323,536 shares during the last quarter. Norges Bank bought a new stake in AutoZone in the fourth quarter valued at approximately $420,100,000. Altshuler Shaham Ltd boosted its holdings in AutoZone by 556,107.4% in the third quarter. Altshuler Shaham Ltd now owns 150,176 shares of the company’s stock valued at $325,000 after acquiring an additional 150,149 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in AutoZone by 13.9% in the first quarter. JPMorgan Chase & Co. now owns 1,188,751 shares of the company’s stock valued at $2,430,495,000 after acquiring an additional 144,984 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in AutoZone in the third quarter valued at approximately $161,309,000. Institutional investors own 95.97% of the company’s stock.

NYSE AZO opened at $1,771.68 on Friday. AutoZone has a 12-month low of $1,367.96 and a 12-month high of $2,267.40. The company has a market capitalization of $35.17 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.50 and a beta of 0.90. The firm’s 50 day moving average is $2,040.94 and its 200-day moving average is $1,974.17.

About AutoZone (Get Rating)

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

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Earnings History and Estimates for AutoZone (NYSE:AZO)

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