$2.77 Billion in Sales Expected for AutoZone, Inc. (AZO) This Quarter

Analysts forecast that AutoZone, Inc. (NYSE:AZO) will announce sales of $2.77 billion for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for AutoZone’s earnings, with the highest sales estimate coming in at $2.79 billion and the lowest estimate coming in at $2.75 billion. AutoZone posted sales of $2.66 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The business is expected to announce its next quarterly earnings results on Tuesday, May 28th.

On average, analysts expect that AutoZone will report full-year sales of $11.81 billion for the current financial year, with estimates ranging from $11.75 billion to $11.87 billion. For the next year, analysts anticipate that the firm will report sales of $12.06 billion, with estimates ranging from $11.96 billion to $12.12 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover AutoZone.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, February 26th. The company reported $11.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.97 by $1.52. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.45 billion. AutoZone had a net margin of 12.49% and a negative return on equity of 98.24%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.47 EPS.

AZO has been the subject of a number of research analyst reports. Bank of America raised shares of AutoZone from a “neutral” rating to a “buy” rating in a report on Monday, March 11th. Morgan Stanley increased their price objective on shares of AutoZone from $870.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, January 23rd. Credit Suisse Group reaffirmed a “hold” rating on shares of AutoZone in a report on Wednesday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $1,030.00 price objective (up from $970.00) on shares of AutoZone in a report on Wednesday, February 27th. Finally, Deutsche Bank increased their price objective on shares of AutoZone from $960.00 to $1,035.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $964.89.

AutoZone stock traded down $0.25 during midday trading on Friday, hitting $1,042.35. The stock had a trading volume of 370,100 shares, compared to its average volume of 314,342. The firm has a market capitalization of $25.75 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 1.41 and a beta of 0.69. AutoZone has a 52-week low of $597.00 and a 52-week high of $1,074.67.

In related news, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $1,038.68, for a total value of $259,670.00. Following the completion of the transaction, the director now directly owns 4,357 shares of the company’s stock, valued at $4,525,528.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas B. Newbern sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $995.92, for a total transaction of $7,469,400.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares of the company’s stock, valued at $12,023,742.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,640 shares of company stock valued at $10,370,907. 2.80% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Berman Capital Advisors LLC purchased a new position in shares of AutoZone in the fourth quarter valued at $26,000. Penserra Capital Management LLC purchased a new position in shares of AutoZone in the fourth quarter valued at $30,000. Lindbrook Capital LLC purchased a new position in shares of AutoZone in the fourth quarter valued at $35,000. CX Institutional bought a new stake in AutoZone in the fourth quarter worth $71,000. Finally, Semmax Financial Advisors Inc. bought a new stake in AutoZone in the fourth quarter worth $75,000. 95.22% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for AutoZone (NYSE:AZO)

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