$21.83 EPS Expected for AutoZone, Inc. (NYSE:AZO) This Quarter

Brokerages forecast that AutoZone, Inc. (NYSE:AZO) will announce earnings of $21.83 per share for the current quarter, according to Zacks. Eight analysts have issued estimates for AutoZone’s earnings. The lowest EPS estimate is $21.28 and the highest is $22.57. AutoZone posted earnings per share of $18.54 during the same quarter last year, which suggests a positive year over year growth rate of 17.7%. The business is expected to report its next quarterly earnings report on Tuesday, September 17th.

According to Zacks, analysts expect that AutoZone will report full year earnings of $62.53 per share for the current financial year, with EPS estimates ranging from $62.01 to $62.92. For the next year, analysts expect that the company will post earnings of $65.61 per share, with EPS estimates ranging from $64.19 to $67.99. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow AutoZone.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $15.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $15.23 by $0.76. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.77 billion. AutoZone had a negative return on equity of 97.19% and a net margin of 12.70%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $13.42 EPS.

A number of analysts have issued reports on the company. Zacks Investment Research raised AutoZone from a “hold” rating to a “buy” rating and set a $1,156.00 target price on the stock in a report on Friday, June 7th. JPMorgan Chase & Co. raised their price objective on AutoZone from $995.00 to $1,126.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Credit Suisse Group set a $1,131.00 price objective on AutoZone and gave the stock a “positive” rating in a research report on Tuesday, April 23rd. They noted that the move was a valuation call. Citigroup raised their price objective on AutoZone from $1,206.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $1,100.00 price objective (up previously from $1,030.00) on shares of AutoZone in a research report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. AutoZone has an average rating of “Buy” and an average target price of $1,017.31.

In related news, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $1,038.68, for a total transaction of $259,670.00. Following the completion of the transaction, the director now owns 4,357 shares in the company, valued at approximately $4,525,528.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Craig Smith sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1,120.00, for a total value of $3,136,000.00. Following the transaction, the insider now owns 5,800 shares of the company’s stock, valued at approximately $6,496,000. The disclosure for this sale can be found here. Insiders sold a total of 33,157 shares of company stock valued at $35,552,898 in the last quarter. Corporate insiders own 2.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in AutoZone by 1.7% during the first quarter. BlackRock Inc. now owns 1,916,950 shares of the company’s stock worth $1,963,187,000 after buying an additional 32,263 shares in the last quarter. FMR LLC lifted its stake in AutoZone by 2.7% during the first quarter. FMR LLC now owns 1,441,475 shares of the company’s stock worth $1,476,243,000 after purchasing an additional 38,062 shares during the last quarter. Geode Capital Management LLC lifted its stake in AutoZone by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 353,880 shares of the company’s stock worth $296,182,000 after purchasing an additional 14,661 shares during the last quarter. Janus Henderson Group PLC lifted its stake in AutoZone by 27.8% during the first quarter. Janus Henderson Group PLC now owns 333,246 shares of the company’s stock worth $341,286,000 after purchasing an additional 72,455 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in AutoZone by 4.4% during the first quarter. Northern Trust Corp now owns 316,440 shares of the company’s stock worth $324,074,000 after purchasing an additional 13,478 shares during the last quarter. Institutional investors and hedge funds own 94.22% of the company’s stock.

AZO opened at $1,097.83 on Wednesday. The firm has a market cap of $27.25 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.46 and a beta of 0.64. The firm has a 50 day simple moving average of $1,056.12. AutoZone has a 12-month low of $662.17 and a 12-month high of $1,135.39.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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