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What to Expect When AutoZone Reports Earnings

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By Chris Lange Updated Published
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What to Expect When AutoZone Reports Earnings

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AutoZone Inc. (NYSE: AZO) is set to report its fiscal third-quarter financial results before the markets open on Tuesday. Thomson Reuters consensus estimates are $10.92 in earnings per share (EPS) on $2.65 billion in revenue. In the same period of last year, the company posted EPS of $9.57 and $2.49 billion in revenue.

This company made a big move earlier this quarter when it initiated a sizable buyback plan. The company announced that its board of directors authorized the repurchase of an additional $750 million of the common stock in connection with its ongoing share repurchase program.

Since the inception of the repurchase program in 1998, and including the $750 million, AutoZone’s board of directors has authorized a grand total of $17.2 billion in share repurchases. Keep in mind that AutoZone has a market cap of roughly $22 billion.

[nativounit]

Prior to the release of the earnings report, a few analysts weighed in on AutoZone:

  • Sterne Agee CRT reiterated a Neutral rating.
  • Argus reiterated a Buy rating.
  • Gabelli reiterated a Buy rating with a $935 price target.
  • Deutsche Bank reiterated a Hold rating.

So far in 2016, AutoZone has outperformed the broad markets, with the stock up about 4%. Over the past 52 weeks, the stock is up 10%.

Shares of AutoZone were trading down 1.7% at $748.40 on Monday, with a consensus analyst price target of $853.00 and a 52-week trading range of $662.70 to $810.00.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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