AutoZone, Inc. (AZO) Expected to Post Q2 2018 Earnings of $8.43 Per Share

AutoZone, Inc. (NYSE:AZO) – Equities research analysts at Wedbush lifted their Q2 2018 earnings per share (EPS) estimates for shares of AutoZone in a report issued on Tuesday. Wedbush analyst S. Basham now anticipates that the company will post earnings of $8.43 per share for the quarter, up from their previous estimate of $8.39. Wedbush has a “Hold” rating and a $580.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Citigroup reiterated a “buy” rating and issued a $700.00 price target on shares of AutoZone in a report on Wednesday, September 20th. UBS Group reiterated a “buy” rating and issued a $655.00 price target (down previously from $725.00) on shares of AutoZone in a report on Wednesday, September 20th. Barclays increased their target price on AutoZone from $710.00 to $800.00 in a research note on Thursday, December 7th. Jefferies Group reissued a “hold” rating and issued a $720.00 target price on shares of AutoZone in a research note on Wednesday, December 6th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $583.00 target price on shares of AutoZone in a research note on Wednesday, September 20th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $717.24.

AutoZone (AZO) traded up $25.17 during trading on Wednesday, reaching $736.54. The company had a trading volume of 558,700 shares, compared to its average volume of 423,850. The company has a market capitalization of $19,458.12, a PE ratio of 16.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71. AutoZone has a fifty-two week low of $491.13 and a fifty-two week high of $802.15. The company has a debt-to-equity ratio of -3.27, a quick ratio of 0.14 and a current ratio of 0.93.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.90 by $0.10. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.54 billion. AutoZone had a negative return on equity of 78.83% and a net margin of 11.66%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $9.36 earnings per share.

A number of institutional investors have recently made changes to their positions in the stock. AXA raised its position in AutoZone by 0.8% in the 3rd quarter. AXA now owns 38,237 shares of the company’s stock valued at $22,755,000 after buying an additional 300 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in AutoZone by 0.3% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 592,020 shares of the company’s stock valued at $352,317,000 after buying an additional 1,888 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in AutoZone by 3.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,781 shares of the company’s stock valued at $27,245,000 after buying an additional 1,483 shares during the last quarter. Gyroscope Capital Management Group LLC raised its position in AutoZone by 31.6% in the 3rd quarter. Gyroscope Capital Management Group LLC now owns 537 shares of the company’s stock valued at $320,000 after buying an additional 129 shares during the last quarter. Finally, IFM Investors Pty Ltd acquired a new stake in AutoZone in the 3rd quarter valued at approximately $503,000. 99.35% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Albert Saltiel sold 2,150 shares of AutoZone stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $703.09, for a total value of $1,511,643.50. Following the sale, the insider now owns 2,276 shares of the company’s stock, valued at approximately $1,600,232.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William T. Giles sold 24,200 shares of AutoZone stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $710.79, for a total value of $17,201,118.00. Following the completion of the sale, the chief financial officer now directly owns 24,466 shares in the company, valued at approximately $17,390,188.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,973 shares of company stock worth $56,444,486. 2.80% of the stock is currently owned by insiders.

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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.

Earnings History and Estimates for AutoZone (NYSE:AZO)

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