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

Earnings results for AutoZone (NYSE:AZO)

AutoZone, Inc. is expected* to report earnings on 05/25/2021 before market open. The report will be for the fiscal Quarter ending May 2021. According to Zacks Investment Research, based on 10 analysts’ forecasts, the consensus EPS forecast for the quarter is $18.93. The reported EPS for the same quarter last year was $14.39.

AutoZone last posted its quarterly earnings results on March 1st, 2021. The reported $14.93 earnings per share for the quarter, beating analysts’ consensus estimates of $12.84 by $2.09. The company earned $2.91 billion during the quarter, compared to analyst estimates of $2.64 billion. Its quarterly revenue was up 15.8% on a year-over-year basis. AutoZone has generated $71.93 earnings per share over the last year and currently has a price-to-earnings ratio of 18.4. AutoZone has confirmed that its next quarterly earnings report will be published on Tuesday, May 25th, 2021. AutoZone will be holding an earnings conference call on Tuesday, May 25th. Interested parties can register for or listen to the call using this link.

Analyst Opinion on AutoZone (NYSE:AZO)

22 Wall Street analysts have issued ratings and price targets for AutoZone in the last 12 months. Their average twelve-month price target is $1,500.20, predicting that the stock has a possible upside of 3.58%. The high price target for AZO is $1,700.00 and the low price target for AZO is $1,275.00. There are currently 1 sell rating, 2 hold ratings, 17 buy ratings and 2 strong buy ratings 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 2.91, and is based on 17 buy ratings, 2 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $1,500.20, AutoZone has a forecasted upside of 3.6% from its current price of $1,448.40. AutoZone has been the subject of 12 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 $35,119,737.00 in company stock. Only 2.80% of the stock of AutoZone is held by insiders. 90.00% 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 9.58% in the coming year, from $79.63 to $87.26 per share. The P/E ratio of AutoZone is 18.37, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 22.55. The P/E ratio of AutoZone is 18.37, which means that it is trading at a less expensive P/E ratio than the Retail/Wholesale sector average P/E ratio of about 69.35. AutoZone has a PEG Ratio of 2.66. PEG Ratios above 1 indicate that a company could be overvalued.

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