AutoZone (NYSE:AZO) Announces Quarterly Earnings Results, Beats Estimates By $0.79 EPS

AutoZone (NYSE:AZO) posted its quarterly earnings results on Tuesday. The company reported $22.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $21.80 by $0.79, Fidelity Earnings reports. AutoZone had a negative return on equity of 98.67% and a net margin of 13.63%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the company earned $18.54 EPS. AutoZone’s revenue for the quarter was up 12.1% compared to the same quarter last year.

NYSE AZO opened at $1,085.69 on Friday. AutoZone has a fifty-two week low of $705.01 and a fifty-two week high of $1,186.60. The stock has a 50 day simple moving average of $1,110.60 and a two-hundred day simple moving average of $1,075.06. The stock has a market cap of $26.90 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65.

In other AutoZone news, Director Earl G. Graves, Jr. sold 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1,077.04, for a total value of $538,520.00. Following the completion of the sale, the director now owns 4,607 shares in the company, valued at approximately $4,961,923.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.80% of the company’s stock.

Several equities analysts recently issued reports on the company. Goldman Sachs Group assumed coverage on AutoZone in a research report on Thursday, July 11th. They set a “neutral” rating and a $1,183.00 price target on the stock. Wells Fargo & Co set a $1,275.00 price target on AutoZone and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded AutoZone from a “hold” rating to a “buy” rating and set a $1,156.00 price objective for the company in a report on Friday, June 7th. Morgan Stanley increased their price objective on AutoZone from $1,050.00 to $1,100.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $1,240.00 price objective (up previously from $1,100.00) on shares of AutoZone in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1,128.00.

About AutoZone

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 for AutoZone (NYSE:AZO)

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