Northcoast Research Weighs in on AutoZone, Inc.’s Q2 2018 Earnings (AZO)
AutoZone, Inc. (NYSE:AZO) – Stock analysts at Northcoast Research reduced their Q2 2018 EPS estimates for AutoZone in a research report issued on Wednesday. Northcoast Research analyst N. Mitchell now forecasts that the company will post earnings per share of $8.41 for the quarter, down from their previous forecast of $8.50. Northcoast Research also issued estimates for AutoZone’s Q3 2018 earnings at $12.13 EPS, Q4 2018 earnings at $16.50 EPS, FY2018 earnings at $46.95 EPS, Q1 2019 earnings at $10.90 EPS, Q2 2019 earnings at $9.17 EPS, Q3 2019 earnings at $13.20 EPS, Q4 2019 earnings at $18.04 EPS and FY2019 earnings at $51.23 EPS.
AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $9.90 by $0.10. AutoZone had a negative return on equity of 78.83% and a net margin of 11.66%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the company earned $9.36 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of AutoZone from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Bank of America reiterated a “buy” rating and set a $625.00 price target on shares of AutoZone in a research report on Tuesday, September 5th. Wedbush reiterated a “hold” rating and set a $580.00 price target (down from $590.00) on shares of AutoZone in a research report on Wednesday, September 20th. Royal Bank Of Canada reduced their price target on shares of AutoZone from $577.00 to $571.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 20th. Finally, Citigroup reiterated a “buy” rating and set a $700.00 price target on shares of AutoZone in a research report on Wednesday, September 20th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $733.89.
Shares of AutoZone (NYSE AZO) opened at $702.34 on Friday. AutoZone has a twelve month low of $491.13 and a twelve month high of $813.70. The firm has a market capitalization of $19,046.60, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.28 and a beta of 0.72. The company has a debt-to-equity ratio of -3.27, a current ratio of 0.93 and a quick ratio of 0.15.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fieldpoint Private Securities LLC purchased a new stake in shares of AutoZone during the 2nd quarter valued at $114,000. Salem Investment Counselors Inc. grew its stake in shares of AutoZone by 3.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after buying an additional 9 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AutoZone during the 3rd quarter valued at $179,000. Global X Management Co. LLC grew its stake in shares of AutoZone by 12.9% during the 2nd quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock valued at $184,000 after buying an additional 37 shares during the period. Finally, Jarislowsky Fraser Ltd purchased a new stake in shares of AutoZone during the 3rd quarter valued at $202,000. 98.89% of the stock is owned by institutional investors.
In other AutoZone news, Director William Andrew Mckenna sold 3,000 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $584.96, for a total value of $1,754,880.00. Following the completion of the transaction, the director now directly owns 8,131 shares in the company, valued at approximately $4,756,309.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman William C. Rhodes III sold 26,500 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $701.84, for a total value of $18,598,760.00. Following the completion of the transaction, the chairman now owns 11,464 shares of the company’s stock, valued at $8,045,893.76. The disclosure for this sale can be found here. Insiders sold a total of 43,123 shares of company stock valued at $29,883,110 over the last quarter. 2.60% of the stock is currently owned by insiders.
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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