AutoZone, Inc. to Post Q2 2018 Earnings of $8.39 Per Share, Wedbush Forecasts (AZO)
AutoZone, Inc. (NYSE:AZO) – Equities research analysts at Wedbush boosted their Q2 2018 earnings per share (EPS) estimates for AutoZone in a report released on Wednesday. Wedbush analyst S. Basham now expects that the company will post earnings per share of $8.39 for the quarter, up from their previous forecast of $8.20. Wedbush has a “Hold” rating and a $580.00 price target on the stock. Wedbush also issued estimates for AutoZone’s Q3 2018 earnings at $12.05 EPS, Q4 2018 earnings at $16.66 EPS, FY2018 earnings at $47.10 EPS, Q1 2019 earnings at $11.01 EPS, Q2 2019 earnings at $9.28 EPS, Q3 2019 earnings at $13.31 EPS, Q4 2019 earnings at $18.07 EPS and FY2019 earnings at $51.68 EPS.
AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, beating analysts’ consensus estimates of $9.90 by $0.10. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.54 billion. AutoZone had a negative return on equity of 78.83% and a net margin of 11.66%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.36 EPS.
Other equities analysts also recently issued research reports about the company. Deutsche Bank upped their target price on AutoZone from $625.00 to $700.00 in a report on Thursday. Barclays boosted their price target on AutoZone from $710.00 to $800.00 in a research note on Thursday. UBS reissued a “buy” rating and issued a $655.00 price target (down previously from $725.00) on shares of AutoZone in a research note on Wednesday, September 20th. Credit Suisse Group reissued a “buy” rating and issued a $583.00 price target on shares of AutoZone in a research note on Wednesday, September 20th. Finally, Citigroup reissued a “buy” rating and issued a $700.00 price target on shares of AutoZone in a research note on Wednesday, September 20th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $733.89.
AutoZone (AZO) opened at $721.89 on Friday. The firm has a market capitalization of $19,850.00, a PE ratio of 15.71, a PEG ratio of 1.29 and a beta of 0.71. AutoZone has a twelve month low of $491.13 and a twelve month high of $811.59. The company has a quick ratio of 0.15, a current ratio of 0.93 and a debt-to-equity ratio of -3.27.
Institutional investors and hedge funds have recently bought and sold shares of the company. AXA raised its stake in shares of AutoZone by 0.8% in the third quarter. AXA now owns 38,237 shares of the company’s stock valued at $22,755,000 after purchasing an additional 300 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of AutoZone by 0.3% in the third quarter. Burgundy Asset Management Ltd. now owns 592,020 shares of the company’s stock valued at $352,317,000 after purchasing an additional 1,888 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of AutoZone by 3.3% in the third quarter. Public Employees Retirement System of Ohio now owns 45,781 shares of the company’s stock valued at $27,245,000 after purchasing an additional 1,483 shares in the last quarter. Gyroscope Capital Management Group LLC raised its stake in shares of AutoZone by 31.6% in the third quarter. Gyroscope Capital Management Group LLC now owns 537 shares of the company’s stock valued at $320,000 after purchasing an additional 129 shares in the last quarter. Finally, IFM Investors Pty Ltd acquired a new position in shares of AutoZone in the third quarter valued at $503,000. 98.89% of the stock is owned by institutional investors.
In other news, Chairman William C. Rhodes III sold 26,500 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $701.84, for a total value of $18,598,760.00. Following the completion of the sale, the chairman now directly owns 11,464 shares of the company’s stock, valued at $8,045,893.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Andrew Mckenna sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total value of $1,754,880.00. Following the completion of the sale, the director now directly owns 8,131 shares of the company’s stock, valued at $4,756,309.76. The disclosure for this sale can be found here. Insiders sold 43,123 shares of company stock valued at $29,883,110 over the last three months. 2.60% of the stock is owned by company insiders.
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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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