AutoZone Inc (AZO) is scheduled to announce its Q4 2024 earnings on September 24, 2024. Investors and analysts are anticipating key insights into the company’s performance during the final quarter of the fiscal year. The results could provide a clear view of the company’s trajectory amid shifting market dynamics in the automotive retail sector.
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Expected Q4 Earnings of AutoZone Inc:
For Q4 2024, AutoZone is expected to report revenues of $6.22 billion, with earnings projected at $54.03 per share. This follows the company’s full-year 2024 revenue expectation of $18.51 billion, alongside anticipated earnings of $151.58 per share. Recent trends suggest that over the past 90 days, full-year revenue estimates have slightly decreased from $18.54 billion to $18.51 billion, reflecting a cautious outlook. Similarly, earnings estimates have been revised down from $152.03 per share to $151.58 per share.
Stock Target Advisor’s Analysis on AutoZone Inc:
According to Stock Target Advisor, AutoZone holds a Slightly Bullish rating, based on seven positive signals and four negative signals. The company enjoys strong fundamentals, with a 12-month target price of USD 3,229.65 as forecasted by 11 analysts. Factors contributing to the optimistic outlook include AutoZone’s high market capitalization, low volatility, superior returns on assets, and positive cash flows. However, some analysts caution that the stock may be overpriced compared to its earnings and free cash flow, urging careful consideration before making new investments.
Conclusion:
AutoZone’s upcoming Q4 2024 earnings report is highly anticipated, especially given the minor downward revisions in revenue and earnings estimates. The earnings release will be pivotal in determining whether AutoZone can meet or exceed these expectations, providing a clearer outlook for its future growth.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
