AutoZone, Inc. (AZO) Expected to Post Earnings of $17.87 Per Share
Wall Street analysts expect that AutoZone, Inc. (NYSE:AZO) will post $17.87 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for AutoZone’s earnings, with the highest EPS estimate coming in at $18.21 and the lowest estimate coming in at $17.58. AutoZone reported earnings of $15.18 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 17.7%. The business is expected to report its next earnings report before the market opens on Tuesday, September 18th.
According to Zacks, analysts expect that AutoZone will report full-year earnings of $49.79 per share for the current year, with EPS estimates ranging from $49.38 to $50.10. For the next fiscal year, analysts anticipate that the firm will report earnings of $56.91 per share, with EPS estimates ranging from $55.20 to $59.22. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover AutoZone.
AZO has been the topic of a number of analyst reports. Deutsche Bank raised shares of AutoZone from a “hold” rating to a “buy” rating and upped their target price for the company from $675.00 to $805.00 in a research note on Wednesday, August 1st. ValuEngine lowered shares of AutoZone from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Wedbush boosted their price target on shares of AutoZone from $680.00 to $740.00 and gave the company an “outperform” rating in a research report on Wednesday, June 27th. Morgan Stanley reduced their price target on shares of AutoZone from $750.00 to $700.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 23rd. Finally, Wells Fargo & Co restated a “buy” rating and issued a $700.00 price target on shares of AutoZone in a research report on Tuesday, May 22nd. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $747.12.
Several hedge funds have recently made changes to their positions in AZO. American Century Companies Inc. acquired a new position in shares of AutoZone during the second quarter worth approximately $120,225,000. JPMorgan Chase & Co. lifted its position in shares of AutoZone by 10.2% during the first quarter. JPMorgan Chase & Co. now owns 1,792,694 shares of the company’s stock worth $1,162,902,000 after purchasing an additional 165,885 shares in the last quarter. Morgan Stanley lifted its position in shares of AutoZone by 435.3% during the second quarter. Morgan Stanley now owns 156,439 shares of the company’s stock worth $104,960,000 after purchasing an additional 127,214 shares in the last quarter. Unigestion Holding SA acquired a new position in shares of AutoZone during the second quarter worth approximately $66,555,000. Finally, Point72 Asset Management L.P. acquired a new position in AutoZone in the second quarter valued at approximately $61,390,000. Institutional investors own 92.59% of the company’s stock.
NYSE AZO opened at $770.52 on Friday. The stock has a market capitalization of $20.06 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 1.15 and a beta of 0.88. AutoZone has a twelve month low of $515.24 and a twelve month high of $797.89. The company has a current ratio of 0.95, a quick ratio of 0.14 and a debt-to-equity ratio of -3.64.
AutoZone, Inc retails and distributes automotive replacement parts and accessories. It 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. The company's products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.
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