AutoZone Q3 Misses Wall Street Marks: Earnings Dip, But CEO Sees Bright Road Ahead
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 10 2024
0mins
Source: Benzinga
Earnings Report: AutoZone reported fiscal first-quarter earnings per share of $32.52, falling short of the expected $33.76, with revenues of $4.28 billion also missing analyst estimates. Same-store sales increased by 0.4%, while gross profit margin improved to 53.0%.
Growth Initiatives: The company opened 34 new stores across the U.S., Mexico, and Brazil, and has a remaining $1.7 billion for share repurchases, indicating a focus on growth and market expansion despite currency challenges affecting reported sales.
Analyst Views on AZO
Wall Street analysts forecast AZO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AZO is 4328 USD with a low forecast of 3550 USD and a high forecast of 4800 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
17 Buy
3 Hold
0 Sell
Strong Buy
Current: 3671.680
Low
3550
Averages
4328
High
4800
Current: 3671.680
Low
3550
Averages
4328
High
4800
About AZO
AutoZone, Inc. is a retailer and distributor of automotive replacement parts and accessories in the Americas. Its Auto Parts Stores segment is a retailer and distributor of automotive parts and accessories through its approximately 7,353 stores in the United States, Mexico and Brazil. Each store carries an extensive product line for cars, sport utility vehicles, vans and light duty trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. The Company also sells automotive hard parts, maintenance items, accessories and non-automotive products through www.autozone.com, and its commercial customers can make purchases through www.autozonepro.com. In addition, the Company sells the ALLDATA brand of automotive diagnostic, repair, collision and shop management software through www.alldata.com. It also provides product information on its Duralast branded products through www.duralastparts.com.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
