AutoZone, Inc. (NYSE:AZO) Expected to Announce Quarterly Sales of $3.50 Billion
Equities research analysts expect that AutoZone, Inc. (NYSE:AZO) will report $3.50 billion in sales for the current quarter, according to Zacks. Nine analysts have provided estimates for AutoZone’s earnings. The lowest sales estimate is $3.46 billion and the highest is $3.55 billion. AutoZone reported sales of $3.40 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The business is scheduled to issue its next earnings results on Thursday, September 28th.
On average, analysts expect that AutoZone will report full-year sales of $3.50 billion for the current fiscal year, with estimates ranging from $10.82 billion to $10.93 billion. For the next financial year, analysts anticipate that the firm will report sales of $11.23 billion per share, with estimates ranging from $11.09 billion to $11.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover AutoZone.
AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $12.00 by $0.56. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.70 billion. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. AutoZone’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $10.77 earnings per share.
A number of research firms recently weighed in on AZO. BidaskClub raised shares of AutoZone from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Deutsche Bank AG reaffirmed a “hold” rating and set a $550.00 price target (down from $650.00) on shares of AutoZone in a report on Friday, July 21st. Oppenheimer Holdings, Inc. lowered their price target on shares of AutoZone and set an “outperform” rating for the company in a report on Thursday, July 20th. Wolfe Research lowered shares of AutoZone from a “market perform” rating to an “underperform” rating in a report on Monday, July 17th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $583.00 price target (down from $658.00) on shares of AutoZone in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $775.91.
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In other AutoZone news, Director Earl G. Graves, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $602.50, for a total transaction of $602,500.00. Following the transaction, the director now owns 4,431 shares of the company’s stock, valued at approximately $2,669,677.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William T. Giles sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the transaction, the vice president now directly owns 18,500 shares in the company, valued at approximately $10,750,350. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AZO. Federated Investors Inc. PA boosted its position in AutoZone by 5.9% in the second quarter. Federated Investors Inc. PA now owns 39,874 shares of the company’s stock valued at $22,747,000 after buying an additional 2,228 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in AutoZone by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 38,995 shares of the company’s stock valued at $22,245,000 after buying an additional 175 shares during the last quarter. Marshall Wace North America L.P. boosted its position in AutoZone by 275.7% in the second quarter. Marshall Wace North America L.P. now owns 4,467 shares of the company’s stock valued at $2,546,000 after buying an additional 3,278 shares during the last quarter. Nippon Life Insurance Co. boosted its position in AutoZone by 0.4% in the second quarter. Nippon Life Insurance Co. now owns 2,022 shares of the company’s stock valued at $1,153,000 after buying an additional 8 shares during the last quarter. Finally, Highstreet Asset Management Inc. bought a new position in AutoZone during the second quarter valued at approximately $979,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.
AutoZone (NYSE AZO) traded up 1.42% during midday trading on Thursday, hitting $536.82. 259,669 shares of the stock traded hands. AutoZone has a one year low of $491.13 and a one year high of $813.70. The company has a market cap of $15.05 billion, a PE ratio of 12.40 and a beta of 0.61. The company’s 50-day moving average is $542.34 and its 200-day moving average is $661.28.
AutoZone Company Profile
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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