AutoZone, Inc. (NYSE:AZO) Expected to Post Quarterly Sales of $3.33 Billion

Equities research analysts predict that AutoZone, Inc. (NYSE:AZO) will report $3.33 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for AutoZone’s earnings, with the highest sales estimate coming in at $3.38 billion and the lowest estimate coming in at $3.27 billion. AutoZone posted sales of $3.15 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The business is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, December 7th.

According to Zacks, analysts expect that AutoZone will report full year sales of $14.81 billion for the current year, with estimates ranging from $14.30 billion to $15.20 billion. For the next fiscal year, analysts expect that the firm will report sales of $15.56 billion, with estimates ranging from $14.98 billion to $16.24 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover AutoZone.

AutoZone (NYSE:AZO) last announced its earnings results on Monday, September 20th. The company reported $35.72 EPS for the quarter, topping the consensus estimate of $30.20 by $5.52. The company had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.57 billion. AutoZone had a negative return on equity of 142.05% and a net margin of 14.84%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $30.93 earnings per share.

Several equities analysts have recently issued reports on AZO shares. Zacks Investment Research lowered AutoZone from a “buy” rating to a “hold” rating and set a $1,900.00 price target on the stock. in a research note on Friday, November 5th. Citigroup increased their target price on AutoZone from $1,870.00 to $1,950.00 and gave the company a “buy” rating in a research note on Wednesday, September 22nd. Stephens increased their target price on AutoZone from $1,700.00 to $1,850.00 and gave the company an “overweight” rating in a research note on Wednesday, September 22nd. DA Davidson lowered AutoZone from a “buy” rating to a “neutral” rating and set a $1,600.00 target price on the stock. in a research note on Monday, September 13th. Finally, Wells Fargo & Company increased their target price on AutoZone from $1,700.00 to $1,750.00 and gave the company an “overweight” rating in a research note on Monday, September 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $1,711.35.

Shares of AZO traded down $25.05 during trading hours on Friday, hitting $1,855.05. 122,927 shares of the stock traded hands, compared to its average volume of 195,563. AutoZone has a 1-year low of $1,085.85 and a 1-year high of $1,941.36. The firm has a market capitalization of $38.90 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. The business has a fifty day moving average of $1,762.87 and a 200-day moving average of $1,610.35.

In other news, EVP Philip B. Daniele sold 1,180 shares of the firm’s stock in a transaction that occurred on Friday, October 22nd. The stock was sold at an average price of $1,827.11, for a total value of $2,155,989.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Charles Pleas III sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 22nd. The shares were sold at an average price of $1,675.90, for a total value of $11,731,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,680 shares of company stock valued at $21,459,935. Corporate insiders own 2.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AZO. Nordea Investment Management AB lifted its holdings in AutoZone by 69.9% during the 3rd quarter. Nordea Investment Management AB now owns 1,080,972 shares of the company’s stock worth $1,854,732,000 after purchasing an additional 444,581 shares during the last quarter. Marathon Asset Mgmt Ltd acquired a new position in AutoZone in the 3rd quarter valued at $256,087,000. Altshuler Shaham Ltd raised its holdings in AutoZone by 556,107.4% in the 3rd quarter. Altshuler Shaham Ltd now owns 150,176 shares of the company’s stock valued at $325,000 after acquiring an additional 150,149 shares in the last quarter. Factorial Partners LLC raised its holdings in AutoZone by 140,330.0% in the 1st quarter. Factorial Partners LLC now owns 98,301 shares of the company’s stock valued at $70,000 after acquiring an additional 98,231 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in AutoZone in the 3rd quarter valued at $161,309,000. 87.44% of the stock is owned by institutional investors and hedge funds.

AutoZone Company Profile

AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.

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Earnings History and Estimates for AutoZone (NYSE:AZO)

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