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

AutoZone (NYSE:AZO) posted its quarterly 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. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm 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 EPS. The business’s revenue was up 9.0% on a year-over-year basis.

AutoZone Trading Down 0.1 %

Shares of AZO opened at $3,046.64 on Wednesday. The stock’s 50-day moving average price is $3,109.08 and its two-hundred day moving average price is $3,009.36. AutoZone has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The company has a market capitalization of $52.04 billion, a PE ratio of 21.07, a PEG ratio of 1.43 and a beta of 0.71.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Saturday. Evercore ISI reduced their price objective on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Guggenheim lifted their target price on AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Oppenheimer reissued a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a report on Wednesday, June 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3,129.44.

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.