AutoZone, Inc. (AZO - Free Report) is one of the nation’s leading specialty retailers of automotive replacement parts and accessories, operating in the Do-It-Yourself (“DIY”) retail, Do-It-for-Me (“DIFM”) commercial and other customer markets. The company is focused on increasing sales through store expansion and boosting earnings per share via an aggressive share repurchase program.
However, AutoZone has been facing challenges in terms higher expenses related to opening new distribution centers and increasing the frequency of delivery to stores.
Estimate Trend & Surprise History
Investors should note that the third quarter (ended May 6, 2017) of fiscal 2017 earnings estimates for AutoZone have been going down over the past week and month.
Meanwhile, the company delivered a positive earnings surprise in one of the trailing four quarters, met expectations in two and missed in one, with an average miss of around 0.46%. Investors have been eagerly awaiting AutoZone’s latest earnings report to see whether it delivers an earnings beat in the third quarter.
Earnings
AutoZone reported earnings of $11.44 per share in the third quarter of fiscal 2017, missing the Zacks Consensus Estimate of $12.00. However, earnings were 6.2% higher than $10.77 per share generated in the year-ago quarter.
Revenues
AutoZone logged revenues of $2.62 billion, surpassing the Zacks Consensus Estimate of $2.70 billion. Moreover, revenues were 1.2% higher than a year-ago.
Key Stats/Developments to Note
In the third quarter of fiscal 2017, AutoZone repurchased 396,000 shares for $284 million, reflecting an average price of $716 per share. The company had shares worth $1.051 billion remaining for repurchase at the end of the quarter.
Zacks Rank
AutoZone currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Market Reaction
AutoZone’s shares have fallen 2.2% in the pre-market trading so far. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on AutoZone’s earnings report!
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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AutoZone, Inc. (AZO - Free Report) is one of the nation’s leading specialty retailers of automotive replacement parts and accessories, operating in the Do-It-Yourself (“DIY”) retail, Do-It-for-Me (“DIFM”) commercial and other customer markets. The company is focused on increasing sales through store expansion and boosting earnings per share via an aggressive share repurchase program.
However, AutoZone has been facing challenges in terms higher expenses related to opening new distribution centers and increasing the frequency of delivery to stores.
Estimate Trend & Surprise History
Investors should note that the third quarter (ended May 6, 2017) of fiscal 2017 earnings estimates for AutoZone have been going down over the past week and month.
Meanwhile, the company delivered a positive earnings surprise in one of the trailing four quarters, met expectations in two and missed in one, with an average miss of around 0.46%. Investors have been eagerly awaiting AutoZone’s latest earnings report to see whether it delivers an earnings beat in the third quarter.
Earnings
AutoZone reported earnings of $11.44 per share in the third quarter of fiscal 2017, missing the Zacks Consensus Estimate of $12.00. However, earnings were 6.2% higher than $10.77 per share generated in the year-ago quarter.
Revenues
AutoZone logged revenues of $2.62 billion, surpassing the Zacks Consensus Estimate of $2.70 billion. Moreover, revenues were 1.2% higher than a year-ago.
Key Stats/Developments to Note
In the third quarter of fiscal 2017, AutoZone repurchased 396,000 shares for $284 million, reflecting an average price of $716 per share. The company had shares worth $1.051 billion remaining for repurchase at the end of the quarter.
Zacks Rank
AutoZone currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Market Reaction
AutoZone’s shares have fallen 2.2% in the pre-market trading so far. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on AutoZone’s earnings report!
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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