AutoZone, Inc. (AZO) to Post FY2017 Earnings of $43.77 Per Share, Oppenheimer Holdings Forecasts
AutoZone, Inc. (NYSE:AZO) – Equities researchers at Oppenheimer Holdings decreased their FY2017 earnings per share estimates for shares of AutoZone in a research note issued to investors on Thursday. Oppenheimer Holdings analyst B. Nagel now forecasts that the company will post earnings per share of $43.77 for the year, down from their prior estimate of $44.52. Oppenheimer Holdings currently has a “Outperform” rating on the stock. Oppenheimer Holdings also issued estimates for AutoZone’s Q4 2017 earnings at $15.05 EPS, Q1 2018 earnings at $9.88 EPS, Q2 2018 earnings at $8.50 EPS and Q3 2018 earnings at $12.30 EPS.
Other research analysts have also issued reports about the company. Goldman Sachs Group, Inc. (The) raised AutoZone from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $615.62 to $662.00 in a research report on Tuesday, May 30th. They noted that the move was a valuation call. Citigroup Inc. decreased their target price on AutoZone from $920.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. BTIG Research reaffirmed a “buy” rating and issued a $825.00 target price on shares of AutoZone in a research report on Wednesday, May 24th. CIBC reaffirmed a “buy” rating and issued a $900.00 target price on shares of AutoZone in a research report on Wednesday, May 24th. Finally, ValuEngine raised AutoZone from a “hold” rating to a “buy” rating in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $775.91.
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Shares of AutoZone (AZO) opened at 511.46 on Friday. The firm has a 50 day moving average price of $562.64 and a 200 day moving average price of $677.76. AutoZone has a one year low of $491.13 and a one year high of $818.00. The company has a market capitalization of $14.34 billion, a P/E ratio of 11.81 and a beta of 0.62.
AutoZone (NYSE:AZO) last announced its quarterly earnings results 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. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the company earned $10.77 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year.
In other AutoZone news, Director William Andrew Mckenna bought 300 shares of the stock in a transaction on Thursday, July 13th. The shares were acquired at an average price of $507.00 per share, with a total value of $152,100.00. Following the acquisition, the director now directly owns 5,131 shares of the company’s stock, valued at approximately $2,601,417. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Earl G. Graves, Jr. sold 1,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $602.50, for a total transaction of $602,500.00. Following the sale, 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. 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. BLS Capital Fondsmaeglerselskab A S purchased a new position in AutoZone during the fourth quarter valued at $12,767,000. Dimensional Fund Advisors LP boosted its position in AutoZone by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 56,575 shares of the company’s stock valued at $44,689,000 after buying an additional 367 shares during the last quarter. Quadrature Capital Ltd boosted its position in AutoZone by 6.8% in the fourth quarter. Quadrature Capital Ltd now owns 10,513 shares of the company’s stock valued at $8,318,000 after buying an additional 672 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in AutoZone by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 105,543 shares of the company’s stock valued at $83,357,000 after buying an additional 544 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in AutoZone during the fourth quarter valued at $1,654,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.
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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