AutoZone, Inc. (NYSE:AZO) Forecasted to Earn FY2024 Earnings of $151.03 Per Share

AutoZone, Inc. (NYSE:AZO) – Investment analysts at Wedbush dropped their FY2024 earnings per share (EPS) estimates for AutoZone in a research report issued to clients and investors on Wednesday, May 22nd. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of $151.03 for the year, down from their prior estimate of $154.01. Wedbush has a “Outperform” rating and a $3,200.00 price target on the stock. The consensus estimate for AutoZone’s current full-year earnings is $152.27 per share. Wedbush also issued estimates for AutoZone’s Q4 2024 earnings at $52.90 EPS, Q1 2025 earnings at $35.37 EPS, Q3 2025 earnings at $40.28 EPS, Q4 2025 earnings at $55.89 EPS, FY2025 earnings at $163.30 EPS and FY2026 earnings at $181.45 EPS.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter last year, the firm earned $34.12 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year.

A number of other research analysts have also recently commented on AZO. UBS Group reduced their price objective on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays reduced their price objective on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research note on Thursday. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Citigroup reduced their price objective on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $3,066.53.

AutoZone Trading Up 0.2 %

Shares of AutoZone stock opened at $2,777.54 on Friday. AutoZone has a twelve month low of $2,277.88 and a twelve month high of $3,256.37. The stock has a market capitalization of $48.11 billion, a P/E ratio of 19.56, a PEG ratio of 1.37 and a beta of 0.72. The business’s fifty day moving average price is $3,015.95 and its 200 day moving average price is $2,826.45.

Insider Activity

In other news, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the transaction, the vice president now directly owns 910 shares of the company’s stock, valued at $2,912,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares in the company, valued at $48,992,208.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Eric S. Gould sold 2,100 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the vice president now owns 910 shares of the company’s stock, valued at approximately $2,912,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,990 shares of company stock worth $50,335,193. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Hedge funds have recently made changes to their positions in the stock. LGT Capital Partners LTD. lifted its stake in shares of AutoZone by 32.2% in the fourth quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock valued at $70,458,000 after buying an additional 6,630 shares during the period. SRS Capital Advisors Inc. lifted its stake in shares of AutoZone by 49.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 155 shares of the company’s stock valued at $401,000 after buying an additional 51 shares during the period. Headlands Technologies LLC bought a new stake in shares of AutoZone in the fourth quarter valued at about $145,000. Knights of Columbus Asset Advisors LLC lifted its stake in shares of AutoZone by 17.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 1,701 shares of the company’s stock valued at $4,398,000 after buying an additional 255 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in shares of AutoZone by 8.1% in the fourth quarter. Handelsbanken Fonder AB now owns 7,544 shares of the company’s stock valued at $19,506,000 after buying an additional 566 shares during the period. Institutional investors own 92.74% of the company’s stock.

About AutoZone

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.