Zacks: Brokerages Expect Advance Auto Parts Inc (AAP) to Announce $1.24 EPS
Analysts expect Advance Auto Parts Inc (NYSE:AAP) to announce earnings per share of $1.24 for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Advance Auto Parts’ earnings. The highest EPS estimate is $1.51 and the lowest is $1.14. Advance Auto Parts posted earnings per share of $1.73 in the same quarter last year, which would suggest a negative year-over-year growth rate of 28.3%. The business is expected to issue its next quarterly earnings report on Monday, November 13th.
On average, analysts expect that Advance Auto Parts will report full-year earnings of $5.18 per share for the current year, with EPS estimates ranging from $4.75 to $5.80. For the next year, analysts forecast that the business will post earnings of $6.25 per share, with EPS estimates ranging from $5.20 to $7.41. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.65 by $0.07. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the firm earned $1.90 EPS. The company’s revenue was up .3% on a year-over-year basis.
AAP has been the subject of several recent research reports. UBS AG reaffirmed a “buy” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advance Auto Parts in a research report on Wednesday, May 17th. Royal Bank Of Canada lowered their price objective on shares of Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating for the company in a research report on Thursday, May 25th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a research report on Wednesday, May 24th. Bank of America Corporation lowered their price objective on shares of Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. Finally, Deutsche Bank AG lowered their price objective on shares of Advance Auto Parts from $192.00 to $164.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $124.03.
Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its stake in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after buying an additional 24 shares during the last quarter. Tobam bought a new stake in Advance Auto Parts in the second quarter valued at $118,000. QS Investors LLC lifted its stake in Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after buying an additional 9 shares during the last quarter. Huntington National Bank lifted its stake in Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after buying an additional 283 shares during the last quarter. Finally, Global X Management Co. LLC lifted its stake in Advance Auto Parts by 14.3% in the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after buying an additional 139 shares during the last quarter.
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Advance Auto Parts (AAP) opened at 93.53 on Friday. The firm’s 50-day moving average is $101.82 and its 200 day moving average is $128.83. Advance Auto Parts has a 12-month low of $82.21 and a 12-month high of $177.83. The firm has a market cap of $6.91 billion, a PE ratio of 18.67 and a beta of 0.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, September 21st. Advance Auto Parts’s dividend payout ratio is presently 4.80%.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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