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

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

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,108.97 on Thursday. AutoZone has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The stock has a fifty day moving average price of $3,109.08 and a two-hundred day moving average price of $3,009.36. The firm has a market cap of $53.10 billion, a P/E ratio of 21.50, a PEG ratio of 1.43 and a beta of 0.71.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial cut their price target on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a report on Wednesday. Evercore ISI cut their target price 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. Morgan Stanley upped their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday. Mizuho increased their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Oppenheimer reissued a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.