AutoZone (NYSE:AZO) Releases Quarterly Earnings Results, Misses Estimates By $5.20 EPS

AutoZone (NYSE:AZO) issued its earnings results on Tuesday. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20), Briefing.com reports. The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $46.46 EPS.

AutoZone Stock Performance

AZO stock opened at $3,108.97 on Thursday. AutoZone has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The business’s 50-day moving average is $3,109.08 and its two-hundred day moving average is $3,009.36. The company has a market cap of $53.10 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.43 and a beta of 0.71.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AZO. Oppenheimer reaffirmed a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a research note on Wednesday, June 26th. Evercore ISI decreased their target price on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Wedbush restated an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Finally, Morgan Stanley increased their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $3,169.38.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.