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

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

AutoZone Stock Performance

NYSE AZO opened at $3,108.97 on Thursday. The stock has a market capitalization of $53.10 billion, a PE ratio of 21.50, a P/E/G ratio of 1.43 and a beta of 0.71. The stock has a 50-day simple moving average of $3,109.08 and a 200 day simple moving average of $3,009.36. AutoZone has a twelve month low of $2,375.35 and a twelve month high of $3,256.37.

Analyst Ratings Changes

AZO has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. UBS Group increased their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush restated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Mizuho upped their target price on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Guggenheim lifted their price target on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday. Three 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,169.38.

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.