AutoZone (NYSE:AZO) Releases Earnings Results, Misses Estimates By $5.20 EPS

AutoZone (NYSE:AZO) posted its quarterly earnings data on Tuesday. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20), Briefing.com reports. The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $46.46 earnings per share.

AutoZone Price Performance

AutoZone stock opened at $3,108.97 on Thursday. The firm has a market capitalization of $53.10 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.43 and a beta of 0.71. The company’s 50 day simple moving average is $3,109.08 and its 200 day simple moving average is $3,009.36. AutoZone has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37.

Wall Street Analyst Weigh In

AZO has been the subject of a number of research reports. UBS Group raised their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley increased their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday. Mizuho boosted their price target on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial decreased their price objective on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Evercore ISI reduced their target price on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,169.38.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.