AutoZone, Inc. (AZO) is gearing up to release its fourth-quarter fiscal 2024 earnings results before the opening bell on Tuesday, September 24th. The Memphis, Tennessee-based auto parts retailer is poised for a strong showing, with analysts projecting robust growth.
Earnings are expected to surge to $53.69 per share, representing a significant jump from the $46.46 per share reported in the same period last year. Revenue is projected to reach $6.23 billion, up from $5.69 billion in the previous year, according to data from Benzinga Pro.
The company’s commitment to shareholder value was evident in June, when AutoZone’s board approved an additional $1.5 billion share repurchase. This move reinforces the company’s confidence in its future prospects and its dedication to rewarding investors.
However, despite the positive outlook, AutoZone shares experienced a slight decline of 1.1% to close at $3,040.09 on Thursday.
Analyst Perspectives on AutoZone:
Benzinga’s most accurate analysts have provided insights into their expectations for AutoZone’s performance, offering investors a valuable guide to navigate the stock’s trajectory.
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Wedbush analyst Seth Basham
maintained an Outperform rating with a price target of $3,200 on September 19th. This analyst boasts a notable accuracy rate of 76%.*
Evercore ISI Group analyst Greg Melich
kept an Outperform rating but adjusted the price target from $3,278 to $3,275 on July 2nd. This analyst has an accuracy rate of 81%.*
Oppenheimer analyst Brain Nagel
held a Perform rating with a price target of $2,600 on June 26th. This analyst has an accuracy rate of 72%.*
Barclays analyst Matthew McClintock
maintained an Overweight rating but lowered the price target from $3,100 to $3,024 on May 23rd. This analyst boasts an accuracy rate of 87%.*
UBS analyst Michael Lasser
kept a Buy rating and decreased the price target from $3,465 to $3,340 on May 22nd. This analyst has an accuracy rate of 79%.These diverse perspectives highlight the range of opinions surrounding AutoZone’s performance, providing a comprehensive view for investors seeking guidance on the stock’s future trajectory.
