AutoZone, Inc. (AZO) Expected to Announce Quarterly Sales of $3.52 Billion
Wall Street analysts forecast that AutoZone, Inc. (NYSE:AZO) will announce sales of $3.52 billion for the current quarter, Zacks reports. Nine analysts have issued estimates for AutoZone’s earnings. The highest sales estimate is $3.55 billion and the lowest is $3.49 billion. AutoZone reported sales of $3.40 billion in the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The business is scheduled to announce its next quarterly earnings report on Thursday, September 28th.
On average, analysts expect that AutoZone will report full-year sales of $3.52 billion for the current fiscal year, with estimates ranging from $10.84 billion to $10.93 billion. For the next year, analysts forecast that the firm will report sales of $11.32 billion per share, with estimates ranging from $11.15 billion to $11.43 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover AutoZone.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.00 by $0.56. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. AutoZone had a net margin of 11.82% and a negative return on equity of 69.35%. AutoZone’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.77 EPS.
A number of equities research analysts recently commented on AZO shares. Oppenheimer Holdings, Inc. set a $900.00 price target on shares of AutoZone and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Credit Suisse Group set a $812.00 price target on shares of AutoZone and gave the stock a “buy” rating in a report on Wednesday, March 1st. BTIG Research reaffirmed a “buy” rating and issued a $900.00 price target on shares of AutoZone in a report on Wednesday, February 22nd. CIBC reaffirmed a “buy” rating and issued a $900.00 price target on shares of AutoZone in a report on Wednesday, May 24th. Finally, ValuEngine raised shares of AutoZone from a “hold” rating to a “buy” rating in a report on Wednesday, May 24th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $814.81.
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AutoZone (AZO) traded down 3.30% during mid-day trading on Friday, reaching $592.79. The company’s stock had a trading volume of 374,019 shares. AutoZone has a 52-week low of $573.80 and a 52-week high of $819.54. The firm has a 50 day moving average price of $649.29 and a 200 day moving average price of $722.09. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 13.69 and a beta of 0.57.
In other news, insider Rodney C. Halsell sold 14,300 shares of the company’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $724.54, for a total value of $10,360,922.00. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at $2,873,525.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $602.50, for a total transaction of $602,500.00. Following the completion of the transaction, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Oconnor LLC boosted its position in AutoZone by 137.2% in the first quarter. UBS Oconnor LLC now owns 14,000 shares of the company’s stock valued at $10,123,000 after buying an additional 8,098 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in AutoZone during the first quarter valued at $3,409,000. Bristlecone Advisors LLC boosted its position in 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 buying an additional 10 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in AutoZone during the first quarter valued at $104,000. Finally, Green Square Capital LLC purchased a new position in AutoZone during the first quarter valued at $384,000. 96.81% of the stock is currently owned by hedge funds and other institutional investors.
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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