Top Wall Street Forecasters Revamp AutoZone Expectations Ahead Of Q1 Earnings

Core Viewpoint - AutoZone, Inc. is expected to report a slight decrease in quarterly earnings and an increase in revenue compared to the previous year [1][2]. Financial Performance - Analysts anticipate AutoZone's earnings per share (EPS) for the first quarter to be $32.51, a decrease from $32.52 in the same period last year [1]. - The consensus estimate for quarterly revenue is $4.64 billion, up from $4.28 billion reported last year, reflecting a growth of approximately 8.4% [1]. - In the fourth quarter, AutoZone reported a sales growth of 6.9% but experienced a 7.8% decline in operating profit, which was $1.2 billion [2]. - The company's EPS for the fourth quarter decreased to $48.71 from $51.58, marking a 5.6% decline [2]. Stock Performance - AutoZone's shares fell by 1.5%, closing at $3,766.96 on the preceding Monday [2]. Analyst Ratings - Goldman Sachs upgraded AutoZone from Neutral to Buy, adjusting the price target from $4,090 to $4,262 [4]. - BMO Capital maintained an Outperform rating and raised the price target from $4,100 to $4,600 [4]. - Truist Securities maintained a Buy rating, lowering the price target from $4,504 to $4,499 [4]. - Raymond James kept a Strong Buy rating, reducing the price target from $4,900 to $4,800 [4]. - Morgan Stanley maintained an Overweight rating and increased the price target from $4,000 to $4,700 [4].