Equities analysts expect AutoZone, Inc. (NYSE:AZO) to post $12.17 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for AutoZone’s earnings, with the lowest EPS estimate coming in at $11.29 and the highest estimate coming in at $12.71. AutoZone posted earnings of $9.96 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 22.2%. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, December 4th.

According to Zacks, analysts expect that AutoZone will report full-year earnings of $58.44 per share for the current year, with EPS estimates ranging from $56.02 to $63.49. For the next year, analysts expect that the firm will post earnings of $62.21 per share, with EPS estimates ranging from $60.02 to $65.41. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for AutoZone.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 18th. The company reported $18.54 earnings per share for the quarter, topping the consensus estimate of $17.92 by $0.62. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.60 billion. AutoZone had a net margin of 11.92% and a negative return on equity of 99.70%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $15.27 earnings per share.

Several research analysts have recently weighed in on the stock. Argus decreased their price target on shares of AutoZone to $820.00 and set a “buy” rating on the stock in a report on Thursday, August 30th. Zacks Investment Research raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $860.00 price target on the stock in a report on Tuesday, August 28th. Morgan Stanley upped their price target on shares of AutoZone from $760.00 to $800.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 6th. Stephens reaffirmed a “buy” rating and issued a $825.00 price target on shares of AutoZone in a report on Wednesday, September 19th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upped their price target on shares of AutoZone to $880.00 and gave the stock an “overweight” rating in a report on Wednesday, September 19th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $790.65.

Shares of AutoZone stock traded down $13.26 during trading on Thursday, hitting $810.04. The stock had a trading volume of 427,700 shares, compared to its average volume of 355,610. The stock has a market cap of $20.26 billion, a P/E ratio of 16.07, a PEG ratio of 1.11 and a beta of 0.89. AutoZone has a 12 month low of $590.76 and a 12 month high of $832.30.

AutoZone announced that its board has initiated a stock repurchase plan on Wednesday, September 26th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

In other AutoZone news, insider William W. Graves sold 18,900 shares of the company’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $776.37, for a total transaction of $14,673,393.00. Following the completion of the sale, the insider now directly owns 3,450 shares in the company, valued at $2,678,476.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Charles Pleas III sold 9,500 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $759.85, for a total transaction of $7,218,575.00. Following the sale, the vice president now owns 13,862 shares of the company’s stock, valued at $10,533,040.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,487 shares of company stock valued at $46,667,608. Company insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of AZO. American Century Companies Inc. purchased a new stake in AutoZone during the second quarter valued at about $120,225,000. Morgan Stanley boosted its holdings in shares of AutoZone by 435.3% during the second quarter. Morgan Stanley now owns 156,439 shares of the company’s stock worth $104,960,000 after purchasing an additional 127,214 shares during the period. Unigestion Holding SA purchased a new stake in shares of AutoZone during the second quarter worth about $66,555,000. Renaissance Technologies LLC boosted its holdings in shares of AutoZone by 3,482.1% during the third quarter. Renaissance Technologies LLC now owns 100,300 shares of the company’s stock worth $77,803,000 after purchasing an additional 97,500 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of AutoZone during the second quarter worth about $61,390,000. Institutional investors and hedge funds own 94.39% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. It 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. The company's 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, thermostats, starters and alternators, and water pumps.

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Earnings History and Estimates for AutoZone (NYSE:AZO)

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