AutoZone Report Preview: Quarterly Earnings and Analyst Insights

AutoZone's Upcoming Quarterly Earnings Release
AutoZone, Inc. (NYSE: AZO) is set to reveal its earnings for the fourth quarter soon, generating significant anticipation among investors and analysts alike.
Projected Earnings and Revenue Figures
Analysts are forecasting that AutoZone will report earnings of approximately $50.95 per share, which reflects a decrease compared to last year's earnings of $51.58 per share. Despite the dip in earnings, AutoZone is expected to see a projected revenue growth, estimating around $6.25 billion, slightly up from the $6.21 billion reported a year ago.
Recent Third Quarter Performance
In its recent third-quarter earnings report, AutoZone announced earnings per share of $35.36, which was below the analyst consensus estimate that was set at $37.17. Nevertheless, the company exceeded expectations with quarterly sales of $4.46 billion, showing a 5.4% year-over-year growth, bolstered by a 3.2% increase in same-store sales, mainly due to the strong performance in the domestic market.
Stock Performance Analysis
On the last trading day, AutoZone shares closed at $4,232.57, marking a modest increase of 0.2%. This mild gain reflects the broader trends in the automotive aftermarket sector, which remain positive as consumer demand for auto parts continues to grow.
Analyst Ratings and Price Target Updates
Several analysts have provided updated ratings for AutoZone, indicating a generally optimistic outlook for the company:
- Raymond James analyst Bobby Griffin has reiterated a Strong Buy rating, raising the price target from $4,200 to $4,900.
- JP Morgan's Christopher Horvers maintained an Overweight rating with an increased price target of $4,850, up from $4,200.
- Wells Fargo's Zachary Fadem also maintained an Overweight rating, lifting the price target to $4,800 from $4,200.
- Barclays analyst Matthew McClintock affirmed his Overweight rating and adjusted the price target to $4,510 from $3,916.
- Lastly, UBS's Michael Lasser confirmed a Buy rating, raising the price target from $4,260 to $4,925.
With various analysts showing substantial confidence in AutoZone's stock, it's an opportune time for investors to consider their positions ahead of the earnings release.
Analysts' Recommendations and Investor Insights
For potential investors considering AZO stock, the current analyst ratings show a robust level of optimism. With most analysts giving strong recommendations, it’s worth paying close attention to the expectations surrounding the impending quarterly earnings report.
Frequently Asked Questions
What are the expected earnings for AutoZone?
Analysts anticipate AutoZone will report earnings of about $50.95 per share for the upcoming quarter.
How did AutoZone perform in the previous quarter?
In the third quarter, AutoZone reported earnings per share of $35.36, which was below expectations but beat revenue estimates.
What is the current stock price of AutoZone?
AutoZone shares closed at $4,232.57 recently, reflecting a slight increase.
What are analysts saying about AutoZone's stock?
Analysts generally express a positive outlook, with many maintaining buy ratings and raising price targets.
What factors are driving AutoZone's revenue growth?
The growth in AutoZone's revenue can be attributed to increased consumer demand and strength in its domestic market.
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