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Autozone

AutoZone (NYSE: $AZO) Set for Q3 Earnings Report Before the BellAutoZone, Inc. (NYSE: NYSE:AZO ), the leading auto parts and accessories retailer, is set to report its third-quarter results today, Tuesday, September 24th, 2024, before the market opens. Investors and analysts alike are closely watching for key insights into the company’s performance, as the automotive retail sector braces for a pivotal earnings season. Earnings Expectations and Revenue Outlook Last quarter, AutoZone (NYSE: NYSE:AZO ) reported revenues of $4.24 billion, a 3.5% year-on-year increase but still falling 1.3% short of analysts' expectations. The company’s gross margins slightly beat forecasts, but weaker-than-expected same-store sales led to a revenue miss. Despite these mixed results, AutoZone (NYSE: NYSE:AZO ) has managed to retain investor confidence, with many analysts reaffirming their projections over the past month. This quarter, analysts expect AutoZone (NYSE: NYSE:AZO ) to generate revenue of $6.22 billion, representing a 9.3% growth year-on-year. Adjusted earnings are anticipated to come in at $53.55 per share, a significant improvement over last year’s $46.46. AutoZone (NYSE: NYSE:AZO ) has had a history of occasionally missing revenue estimates, with three misses over the last two years, keeping analysts and investors cautious as they await today’s results. Nonetheless, AutoZone's stock has only fallen 4.3% over the past month, indicating that shareholders remain steady in the face of uncertainty. Key Drivers: Share Repurchases and Growth Projection In addition to its core earnings, AutoZone's recent financial maneuvers have bolstered investor confidence. The company’s board of directors approved an additional $1.5 billion share repurchase on June 19, further enhancing shareholder value. AutoZone’s consistent buyback program indicates confidence in its long-term outlook, a signal many investors have taken to heart. As the first automotive retail company to report earnings this season, AutoZone is in the spotlight. The industry has faced numerous challenges this year, from supply chain disruptions to fluctuating consumer demand. However, the anticipated rise in revenue, driven by steady demand for automotive parts and accessories, positions AutoZone to stand out. Moreover, in light of advancements in artificial intelligence, AutoZone (NYSE: NYSE:AZO ), like many other corporations, is expected to integrate technology to streamline its operations. Although companies like Nvidia and AMD are reaping the rewards of AI’s rise, AutoZone’s use of generative AI to optimize its business could be a game-changer in the near future. Technical Analysis: On the technical front, AutoZone’s stock performance is also showing positive signs. As of this morning’s premarket trading, NYSE:AZO is up 0.98%, positioning the stock for a potential upward breakout. The daily price chart shows a bullish symmetrical triangle pattern, which is often considered a continuation pattern in technical analysis. This suggests that a positive earnings beat could propel the stock higher, confirming the bullish formation. Adding to the bullish sentiment, AutoZone’s Relative Strength Index (RSI) currently stands at 41.67. While not in overbought territory, this level signals room for growth as the stock attempts to recover from its recent dip. Given the RSI’s position and the formation of the symmetrical triangle, many technical analysts believe that the stock could see further gains, particularly if today’s earnings report meets or exceeds expectations. Price Targets and Market Sentiment AutoZone (NYSE: NYSE:AZO ) is currently trading around $3,048, with an average analyst price target of $3,229. If the company manages to surpass analysts’ expectations with a solid earnings beat, the stock could see a resurgence toward this target and beyond. Analysts are projecting quarterly earnings of $53.69 per share, up from $46.46 in the same quarter last year. Revenue is expected to reach $6.23 billion, significantly higher than last year’s $5.69 billion. Conclusion: A Crucial Moment for AutoZone AutoZone’s Q3 earnings report will set the tone not only for the company but for the broader automotive retail sector. With the stock forming a bullish technical pattern and earnings expected to grow, AutoZone (NYSE: NYSE:AZO ) could be on the cusp of a positive turnaround. The combination of strong fundamentals—such as the company’s share repurchase program and increasing revenues—and technical indicators suggests that the stock has the potential to rally in the near future. However, with the company missing revenue estimates in the past, investors remain cautious. A beat on earnings today could signal a turning point for the stock, propelling it toward new highs, while a miss may prolong the sideways trading seen over the past month. Either way, all eyes are on AutoZone (NYSE: NYSE:AZO ) as it reports earnings before the bell today.
NYSE:AZOLong
by DEXWireNews
CVNA- consolidation after the earnings gap higher LONGCVA on the 30-minute chart shows a high tight flag pattern after the big report of profit on an annual report. Inflation is affecting auto stocks and recession is increasing the number of used care purchases while inflation hangs in there. URLs for both a description of the pattern and the news are embedded in the drawing. The RSI indicator shows a quick move of the faster RSI line over the slower RSI line. The pattern is typically said to forecast bullish continuation out of the consolidation. I will get shares at fair value in the consolidation and follow price for signs of that continuation. Another observation of the consolidation is the price getting above the third upper VWAP bandline then settling down onto the support of the first upper line. I look to target 78 from an entry of 68 for a 15-18% upside with risk constrained by the earnings report and current relative trading volume.
NYSE:CVNALong
by AwesomeAvani
Autozone Post EarningsNYSE:AZO triggered a spike alert this morning on earnings announcement. Price action is at a support and worth a buy to play back to the top of the range and beyond. As an aside, used car prices have increased dramatically in the last few months due to the shortage of new car inventory coming to market. Some of this is due to material costs and companies like Ford NYSE:F have been reported to be having backlog due to computer chip shortages. These market forces are compounded by inflation.
NYSE:AZOLong
by norok
Find and Trade the Winners....Not the Losers!!!Here is how I trade: 1. I find WINNING investments (aka: Above the 200 hour EMA) 2. I look for clear winning scenarios (aka: Low crossing stochastics) 3. I play the odds in my favor (aka: Using stop losses and take profit levels) Way too many people have a pride for the economy. They think that it can never go down. They are almost insulted by the drops in the market. I look at things unbiased. I don't care what is going up. I don't care what is going down. I simply find what is going up and I trade that. I don't make things complicated. I don't buy into falling assets. I play this game with the odds in my favor. You might LOVE NASDAQ:AAPL . But....right now they are getting smacked along with all of the other companies that people love. If you are a trader, why would you join the bloodbath? Here is something good to think about: Stocks move in trends and it is much more likely for a stock too continue in its current trend than too switch directions (this is a FACT. Think about it, the reversal happens every once and awhile while the trends occur all of the time). So why are so many people out here trying to pick the reversals? Why do so many people buy into stocks that are clearly in bearish trends? I think what I said above explains why so many people lose. This is a game of probabilities. Play WITH the odds. Not against them. It all comes down to whether you are in this for the long or the short term. Long-Term Thinkers: - Play with the odds - Take their emotions out of it - Have high win-rates - Track their trades - Make money Short-Term Thinkers: - Play against the odds in hopes of massive returns - Get emotional and make rash choices - Lose more than they win - Think they are good traders since they don't track anything - Lose money It's your choice who you want to be.
NYSE:AZOEducation
by UnknownUnicorn1542001
1
50% downside in AAP (Classic Head and Shoulder)Classic Head and Shoulder formation. AAP was in a great business till a) Starboard took hold of the board, and b) Their market started disappearing to online retailers. c) Newer E-cars require much less of this d) Their inventory and margin issues are still unresolved. And these are tough things to resolve. You either get them right from beginning (Walmart, Costco) or you get them wrong (kmart, Rona(canadian)). At this point, there is too much fighting on their board to make things work for the company, and increasingly every mechanic and do-it-selfer is ordering parts online. I got my windshield for infinity at $160 shipped directly. Compare that to retailer prices of $400-$647 (yes at the dealer). Looking at daily volume, it smells of distribution.
NYSE:AAPShort
by iamajeya
Pairs Trade - AZO a sell and AAP a buy Look at the history of these two stocks going back to 2011. They are identical in performance and yet AAP reports its earnings FIRST and the stock tanked 30 points or 15% last month. Autozone reports on Dec 8th and could face a similar fate as AAP since they are in the same business. Lately, new car sales have taken off to the upside and at some point investors could back off on the sky-high valuations of these stocks that have been delivering steady and consistent profits gains over the years. It's never easy to call the end of a trend, but I'm thinking this is a low risk trade to be long AAP and short AZO into earnings next week. You can manage risk best using options to set up this trade. Target 10% down on AZO relative to AAP. Your profit could come from one side or the other, but you would think that the catalyst would be the earnings report on 12/8/2015. Stay tuned. Tim AZO 776.28 last AAP 159.94 last
NYSE:AZOShort
by timwest
1