AutoZone, Inc. (AZO) Expected to Earn Q1 2018 Earnings of $9.93 Per Share
AutoZone, Inc. (NYSE:AZO) – Investment analysts at Jefferies Group reduced their Q1 2018 earnings per share (EPS) estimates for AutoZone in a note issued to investors on Tuesday. Jefferies Group analyst B. Jordan now forecasts that the company will earn $9.93 per share for the quarter, down from their previous forecast of $10.26. Jefferies Group also issued estimates for AutoZone’s Q2 2018 earnings at $8.48 EPS, Q3 2018 earnings at $12.02 EPS, Q1 2019 earnings at $10.60 EPS, Q2 2019 earnings at $9.08 EPS and FY2019 earnings at $49.89 EPS.
AZO has been the topic of several other research reports. Deutsche Bank AG reiterated a “hold” rating and issued a $550.00 price objective (down previously from $650.00) on shares of AutoZone in a report on Friday, July 21st. Wedbush reiterated a “neutral” rating on shares of AutoZone in a report on Thursday, July 6th. BidaskClub upgraded AutoZone from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. decreased their price objective on AutoZone and set an “outperform” rating on the stock in a report on Thursday, July 20th. Finally, Zacks Investment Research upgraded AutoZone from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $747.27.
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Shares of AutoZone (NYSE AZO) opened at 574.03 on Thursday. AutoZone has a 52-week low of $491.13 and a 52-week high of $813.70. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 13.26 and a beta of 0.62. The firm has a 50 day moving average price of $534.42 and a 200-day moving average price of $611.55.
AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 19th. The company reported $15.18 EPS for the quarter, beating analysts’ consensus estimates of $15.11 by $0.07. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the previous year, the company posted $14.30 EPS. The business’s revenue was up 3.3% on a year-over-year basis.
In other news, Director William Andrew Mckenna acquired 300 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The stock was bought at an average cost of $507.00 per share, for a total transaction of $152,100.00. Following the acquisition, the director now directly owns 5,131 shares in the company, valued at $2,601,417. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William T. Giles sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the completion of the transaction, the vice president now owns 18,500 shares of the company’s stock, valued at $10,750,350. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Burgundy Asset Management Ltd. raised its stake in AutoZone by 47.1% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 590,132 shares of the company’s stock valued at $336,647,000 after buying an additional 188,854 shares during the last quarter. Pinnacle Family Advisors LLC purchased a new stake in AutoZone during the 2nd quarter valued at $311,000. Sentry Investment Management LLC raised its stake in AutoZone by 3.4% during the 2nd quarter. Sentry Investment Management LLC now owns 2,273 shares of the company’s stock valued at $1,297,000 after buying an additional 74 shares during the last quarter. WFG Advisors LP raised its stake in AutoZone by 46.3% during the 2nd quarter. WFG Advisors LP now owns 540 shares of the company’s stock valued at $308,000 after buying an additional 171 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in AutoZone by 52.5% during the 2nd quarter. Toronto Dominion Bank now owns 12,747 shares of the company’s stock valued at $7,273,000 after buying an additional 4,388 shares during the last quarter. Institutional investors and hedge funds own 96.08% of the company’s stock.
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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