Wall Street brokerages predict that AutoZone, Inc. (NYSE:AZO) will report $2.45 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for AutoZone’s earnings, with the highest sales estimate coming in at $2.50 billion and the lowest estimate coming in at $2.39 billion. AutoZone reported sales of $2.41 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 1.7%. The company is scheduled to report its next earnings results on Tuesday, February 26th.

On average, analysts expect that AutoZone will report full-year sales of $11.78 billion for the current fiscal year, with estimates ranging from $11.70 billion to $11.84 billion. For the next financial year, analysts expect that the company will report sales of $11.99 billion, with estimates ranging from $11.81 billion to $12.09 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for AutoZone.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 4th. The company reported $13.47 EPS for the quarter, topping the consensus estimate of $12.21 by $1.26. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. AutoZone had a net margin of 12.49% and a negative return on equity of 102.31%. AutoZone’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.00 EPS.

AZO has been the topic of several recent research reports. Bank of America downgraded shares of AutoZone from a “buy” rating to a “neutral” rating and set a $830.00 price objective on the stock. in a report on Monday, September 17th. Citigroup upped their price objective on shares of AutoZone from $765.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Royal Bank of Canada reduced their price objective on shares of AutoZone from $779.00 to $775.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 19th. Wells Fargo & Co increased their target price on shares of AutoZone from $800.00 to $850.00 and gave the company a “positive” rating in a research report on Thursday, September 13th. They noted that the move was a valuation call. Finally, Credit Suisse Group upped their price objective on shares of AutoZone from $790.00 to $810.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $851.24.

NYSE:AZO traded down $11.39 during trading hours on Monday, hitting $868.68. 592,208 shares of the company were exchanged, compared to its average volume of 359,543. The company has a market cap of $22.49 billion, a PE ratio of 17.26, a P/E/G ratio of 1.23 and a beta of 0.89. AutoZone has a 52-week low of $590.76 and a 52-week high of $894.37.

AutoZone announced that its Board of Directors has initiated a share buyback program on Wednesday, September 26th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the company to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

In related news, insider Rodney C. Halsell sold 5,387 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $751.21, for a total transaction of $4,046,768.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Charles Pleas III sold 9,500 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $759.85, for a total value of $7,218,575.00. Following the sale, the vice president now directly owns 13,862 shares in the company, valued at $10,533,040.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,487 shares of company stock valued at $46,667,608. 2.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Massey Quick Simon & CO. LLC increased its holdings in shares of AutoZone by 222.4% during the third quarter. Massey Quick Simon & CO. LLC now owns 187 shares of the company’s stock valued at $145,000 after purchasing an additional 129 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of AutoZone by 197.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 235 shares of the company’s stock valued at $158,000 after purchasing an additional 156 shares during the period. ELM Advisors LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at $163,000. Flagship Harbor Advisors LLC acquired a new position in shares of AutoZone in the 2nd quarter valued at $173,000. Finally, Paragon Capital Management Ltd purchased a new stake in AutoZone in the 2nd quarter worth about $201,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Company Profile

AutoZone Inc retails and distributes automotive replacement parts and accessories. The company 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. Its 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, starters and alternators, thermostats, and water pumps.

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Earnings History and Estimates for AutoZone (NYSE:AZO)

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