FY2018 EPS Estimates for AutoZone, Inc. Decreased by Analyst (AZO)
AutoZone, Inc. (NYSE:AZO) – Investment analysts at Gabelli decreased their FY2018 earnings per share (EPS) estimates for AutoZone in a research note issued to investors on Wednesday. Gabelli analyst C. Jolly now forecasts that the company will post earnings of $45.55 per share for the year, down from their previous forecast of $47.55. Gabelli also issued estimates for AutoZone’s FY2019 earnings at $51.50 EPS, FY2020 earnings at $56.65 EPS, FY2021 earnings at $62.25 EPS and FY2022 earnings at $68.25 EPS.
AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $9.90 by $0.10. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. AutoZone had a net margin of 11.66% and a negative return on equity of 78.83%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $9.36 EPS.
A number of other research firms have also recently weighed in on AZO. Deutsche Bank increased their price objective on shares of AutoZone from $625.00 to $700.00 in a research report on Thursday. Royal Bank Of Canada lowered their price objective on shares of AutoZone from $577.00 to $571.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 20th. Jefferies Group reaffirmed a “hold” rating and set a $720.00 price objective on shares of AutoZone in a research report on Wednesday. Zacks Investment Research cut shares of AutoZone from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Finally, UBS reaffirmed a “buy” rating and set a $655.00 price objective (down previously from $725.00) on shares of AutoZone in a research report on Wednesday, September 20th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AutoZone currently has a consensus rating of “Hold” and an average target price of $733.89.
AutoZone (AZO) traded up $3.69 during trading hours on Friday, hitting $702.34. 417,200 shares of the company were exchanged, compared to its average volume of 464,011. The company has a debt-to-equity ratio of -3.27, a current ratio of 0.93 and a quick ratio of 0.15. The stock has a market cap of $19,046.60, a PE ratio of 15.64, a P/E/G ratio of 1.28 and a beta of 0.72. AutoZone has a 1 year low of $491.13 and a 1 year high of $813.70.
In related news, Director William Andrew Mckenna sold 3,000 shares of AutoZone stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $584.96, for a total transaction of $1,754,880.00. Following the sale, the director now directly owns 8,131 shares in the company, valued at approximately $4,756,309.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 26,500 shares of AutoZone stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $701.84, for a total transaction of $18,598,760.00. Following the sale, the chairman now owns 11,464 shares in the company, valued at $8,045,893.76. The disclosure for this sale can be found here. Insiders sold a total of 43,123 shares of company stock worth $29,883,110 over the last 90 days. Company insiders own 2.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC acquired a new position in AutoZone in the second quarter valued at $114,000. Salem Investment Counselors Inc. increased its stake in AutoZone by 3.5% in the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after purchasing an additional 9 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in AutoZone in the third quarter valued at $179,000. Global X Management Co. LLC increased its stake in AutoZone by 12.9% in the second quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock valued at $184,000 after purchasing an additional 37 shares during the period. Finally, Jarislowsky Fraser Ltd acquired a new position in AutoZone in the third quarter valued at $202,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.
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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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