Wall Street analysts expect that AutoZone, Inc. (NYSE:AZO) will report earnings of $13.02 per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for AutoZone’s earnings, with the highest EPS estimate coming in at $13.69 and the lowest estimate coming in at $12.44. AutoZone reported earnings of $11.44 per share in the same quarter last year, which suggests a positive year over year growth rate of 13.8%. The company is expected to announce its next quarterly earnings report on Tuesday, May 22nd.

On average, analysts expect that AutoZone will report full year earnings of $49.24 per share for the current year, with EPS estimates ranging from $47.86 to $51.45. For the next fiscal year, analysts expect that the business will report earnings of $57.32 per share, with EPS estimates ranging from $54.22 to $61.92. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for AutoZone.

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AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $8.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $8.81 by ($0.34). The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. AutoZone had a negative return on equity of 88.86% and a net margin of 12.00%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.75 earnings per share.

A number of equities research analysts have recently issued reports on AZO shares. Deutsche Bank increased their target price on AutoZone from $625.00 to $700.00 in a research note on Thursday, December 7th. Jefferies Group reiterated a “hold” rating and issued a $720.00 target price on shares of AutoZone in a research note on Wednesday, December 6th. Wedbush reiterated a “neutral” rating and issued a $670.00 target price (down previously from $720.00) on shares of AutoZone in a research note on Wednesday, February 28th. Argus increased their target price on AutoZone from $675.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Citigroup increased their target price on AutoZone to $820.00 and gave the company a “buy” rating in a research note on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $754.28.

AutoZone stock traded down $0.81 during mid-day trading on Thursday, hitting $647.31. The stock had a trading volume of 311,018 shares, compared to its average volume of 460,686. The company has a current ratio of 0.98, a quick ratio of 0.14 and a debt-to-equity ratio of -3.79. AutoZone has a fifty-two week low of $491.13 and a fifty-two week high of $797.89. The firm has a market capitalization of $17,686.17, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.03 and a beta of 0.85.

AutoZone declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

In other AutoZone news, insider William W. Graves sold 10,500 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $744.78, for a total transaction of $7,820,190.00. Following the transaction, the insider now owns 12,574 shares of the company’s stock, valued at approximately $9,364,863.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James C. Griffith sold 1,250 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $794.70, for a total value of $993,375.00. Following the transaction, the insider now directly owns 1,353 shares in the company, valued at approximately $1,075,229.10. The disclosure for this sale can be found here. Insiders sold 16,737 shares of company stock valued at $12,654,340 in the last three months. 2.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Reliance Trust Co. of Delaware lifted its holdings in shares of AutoZone by 14.4% in the 4th quarter. Reliance Trust Co. of Delaware now owns 588 shares of the company’s stock worth $418,000 after purchasing an additional 74 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of AutoZone by 13.5% in the 4th quarter. Pinebridge Investments L.P. now owns 656 shares of the company’s stock worth $467,000 after purchasing an additional 78 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of AutoZone by 5.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,734 shares of the company’s stock worth $1,032,000 after purchasing an additional 86 shares during the last quarter. Bbva Compass Bancshares Inc. lifted its holdings in shares of AutoZone by 22.5% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 469 shares of the company’s stock worth $334,000 after purchasing an additional 86 shares during the last quarter. Finally, Osborne Partners Capital Management LLC lifted its holdings in shares of AutoZone by 1.3% in the 4th quarter. Osborne Partners Capital Management LLC now owns 7,170 shares of the company’s stock worth $5,101,000 after purchasing an additional 90 shares during the last quarter. 95.81% of the stock is currently owned by institutional investors.

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About AutoZone

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 October 27, 2016, the Company operated through 6,029 locations in the United States, Puerto Rico, Mexico and Brazil.

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Earnings History and Estimates for AutoZone (NYSE:AZO)

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