AutoZone, Inc. (AZO) Expected to Announce Quarterly Sales of $2.54 Billion

Wall Street brokerages expect that AutoZone, Inc. (NYSE:AZO) will report $2.54 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for AutoZone’s earnings. The lowest sales estimate is $2.52 billion and the highest is $2.58 billion. AutoZone posted sales of $2.47 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The business is expected to announce its next earnings report on Tuesday, December 5th.

On average, analysts expect that AutoZone will report full year sales of $2.54 billion for the current year, with estimates ranging from $11.13 billion to $11.37 billion. For the next financial year, analysts expect that the business will report sales of $11.69 billion per share, with estimates ranging from $11.48 billion to $11.93 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for AutoZone.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $15.11 by $0.07. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same period in the previous year, the company earned $14.30 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year.

Several equities research analysts recently commented on the company. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of AutoZone in a research note on Thursday, September 21st. Stephens reaffirmed a “hold” rating and set a $550.00 target price (down previously from $620.00) on shares of AutoZone in a research note on Thursday, September 21st. UBS AG reaffirmed a “buy” rating and set a $655.00 target price (down previously from $725.00) on shares of AutoZone in a research note on Wednesday, September 20th. Credit Suisse Group reaffirmed a “buy” rating and set a $583.00 target price on shares of AutoZone in a research note on Wednesday, September 20th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $700.00 target price on shares of AutoZone in a research note on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. AutoZone has an average rating of “Hold” and a consensus price target of $735.85.

AutoZone (AZO) traded down 0.88% during trading on Tuesday, hitting $590.06. The stock had a trading volume of 372,094 shares. The firm has a market capitalization of $16.42 billion, a P/E ratio of 13.39 and a beta of 0.64. The stock has a 50 day moving average of $575.87 and a 200 day moving average of $591.56. AutoZone has a one year low of $491.13 and a one year high of $813.70.

In other news, Director William Andrew Mckenna sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $584.96, for a total value of $1,754,880.00. Following the transaction, the director now owns 8,131 shares in the company, valued at $4,756,309.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of AutoZone by 2,993.2% in the first quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock valued at $1,467,778,000 after purchasing an additional 1,964,358 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of AutoZone by 1.7% in the second quarter. Vanguard Group Inc. now owns 1,899,758 shares of the company’s stock valued at $1,083,735,000 after purchasing an additional 32,542 shares in the last quarter. FMR LLC lifted its holdings in shares of AutoZone by 6.7% in the second quarter. FMR LLC now owns 1,864,473 shares of the company’s stock valued at $1,063,608,000 after purchasing an additional 117,019 shares in the last quarter. State Street Corp lifted its holdings in shares of AutoZone by 5.1% in the second quarter. State Street Corp now owns 1,363,261 shares of the company’s stock valued at $777,679,000 after purchasing an additional 66,734 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of AutoZone by 44.9% in the second quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock valued at $585,917,000 after purchasing an additional 318,188 shares in the last quarter. Institutional investors own 96.72% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “AutoZone, Inc. (AZO) Expected to Announce Quarterly Sales of $2.54 Billion” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://ledgergazette.com/2017/10/20/autozone-inc-azo-expected-to-announce-quarterly-sales-of-2-54-billion.html.

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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On average, analysts expect that AutoZone will report full year sales of $2.54 billion for the current year, with estimates ranging from $11.13 billion to $11.37 billion. For the next financial year, analysts expect that the business will report sales of $11.69 billion per share, with estimates ranging from $11.48 billion to $11.93 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for AutoZone.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 19th. The company reported $15.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $15.11 by $0.07. AutoZone had a negative return on equity of 74.48% and a net margin of 11.76%. The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same period in the previous year, the company earned $14.30 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year.

Several equities research analysts recently commented on the company. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of AutoZone in a research note on Thursday, September 21st. Stephens reaffirmed a “hold” rating and set a $550.00 target price (down previously from $620.00) on shares of AutoZone in a research note on Thursday, September 21st. UBS AG reaffirmed a “buy” rating and set a $655.00 target price (down previously from $725.00) on shares of AutoZone in a research note on Wednesday, September 20th. Credit Suisse Group reaffirmed a “buy” rating and set a $583.00 target price on shares of AutoZone in a research note on Wednesday, September 20th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $700.00 target price on shares of AutoZone in a research note on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. AutoZone has an average rating of “Hold” and a consensus price target of $735.85.

AutoZone (AZO) traded down 0.88% during trading on Tuesday, hitting $590.06. The stock had a trading volume of 372,094 shares. The firm has a market capitalization of $16.42 billion, a P/E ratio of 13.39 and a beta of 0.64. The stock has a 50 day moving average of $575.87 and a 200 day moving average of $591.56. AutoZone has a one year low of $491.13 and a one year high of $813.70.

In other news, Director William Andrew Mckenna sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $584.96, for a total value of $1,754,880.00. Following the transaction, the director now owns 8,131 shares in the company, valued at $4,756,309.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of AutoZone by 2,993.2% in the first quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock valued at $1,467,778,000 after purchasing an additional 1,964,358 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of AutoZone by 1.7% in the second quarter. Vanguard Group Inc. now owns 1,899,758 shares of the company’s stock valued at $1,083,735,000 after purchasing an additional 32,542 shares in the last quarter. FMR LLC lifted its holdings in shares of AutoZone by 6.7% in the second quarter. FMR LLC now owns 1,864,473 shares of the company’s stock valued at $1,063,608,000 after purchasing an additional 117,019 shares in the last quarter. State Street Corp lifted its holdings in shares of AutoZone by 5.1% in the second quarter. State Street Corp now owns 1,363,261 shares of the company’s stock valued at $777,679,000 after purchasing an additional 66,734 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of AutoZone by 44.9% in the second quarter. Nordea Investment Management AB now owns 1,027,095 shares of the company’s stock valued at $585,917,000 after purchasing an additional 318,188 shares in the last quarter. Institutional investors own 96.72% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “AutoZone, Inc. (AZO) Expected to Announce Quarterly Sales of $2.54 Billion” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://ledgergazette.com/2017/10/20/autozone-inc-azo-expected-to-announce-quarterly-sales-of-2-54-billion.html.

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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Earnings History and Estimates for AutoZone (NYSE:AZO)

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