Is it time to Buy before this week’s earning report AutoZone (NYSE:AZO)

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Earnings results for AutoZone (NYSE:AZO)

AutoZone, Inc. is expected* to report earnings on 09/22/2020 before market open. The report will be for the fiscal Quarter ending Aug 2020. According to Zacks Investment Research, based on 9 analysts’ forecasts, the consensus EPS forecast for the quarter is $24.69. The reported EPS for the same quarter last year was $22.59.

Analyst Opinion on AutoZone (NYSE:AZO)

20 Wall Street analysts have issued ratings and price targets for AutoZone in the last 12 months. Their average twelve-month price target is $1,268.00, predicting that the stock has a possible upside of 6.91%. The high price target for AZO is $1,505.00 and the low price target for AZO is $1,015.00. There are currently 4 hold ratings, 15 buy ratings and 1 strong buy rating for the stock, resulting in a consensus rating of “Buy.”

AutoZone has received a consensus rating of Buy. The company’s average rating score is 2.85, and is based on 15 buy ratings, 4 hold ratings, and no sell ratings. According to analysts’ consensus price target of $1,268.00, AutoZone has a forecasted upside of 6.9% from its current price of $1,186.01. AutoZone has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: AutoZone (NYSE:AZO)

AutoZone does not currently pay a dividend. AutoZone does not have a long track record of dividend growth.

Insiders buying/selling: AutoZone (NYSE:AZO)

In the past three months, AutoZone insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $193,637.00 in company stock. Only 2.50% of the stock of AutoZone is held by insiders. 88.62% of the stock of AutoZone is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of AutoZone (NYSE:AZO

Earnings for AutoZone are expected to grow by 7.49% in the coming year, from $65.42 to $70.32 per share. The P/E ratio of AutoZone is 18.63, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 18.51. The P/E ratio of AutoZone is 18.63, which means that it is trading at a less expensive P/E ratio than the Retail/Wholesale sector average P/E ratio of about 31.70. AutoZone has a PEG Ratio of 1.82. PEG Ratios above 1 indicate that a company could be overvalued.

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