Auto parts and accessories retailer AutoZone (NYSE:AZO) will be announcing earnings results tomorrow before market hours. Here's what you need to know.
Last quarter AutoZone reported revenues of $5.69 billion, up 6.4% year on year, beating analyst revenue expectations by 1.5%. It was a good quarter for the company, with a decent beat of analysts' revenue estimates. In addition, its EPS narrowly outperformed Wall Street's estimates.
Is AutoZone buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting AutoZone's revenue to grow 5.2% year on year to $4.19 billion, slowing down from the 8.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $31.59 per share.
The analysts covering the company have had mixed opinions about the business heading into the earnings, with revenue estimates seeing three upward and four downward revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 3.9%.
With AutoZone being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for automotive and marine retail stocks, but there has been positive sentiment among investors in the segment, with the stocks up on average 11.4% over the last month. AutoZone is up 1.4% during the same time, and is heading into the earnings with with analyst price target of $2821.8, compared to share price of $2,641.7.
The author has no position in any of the stocks mentioned.