Zacks: Analysts Expect Advance Auto Parts Inc (AAP) Will Post Earnings of $1.23 Per Share
Wall Street brokerages forecast that Advance Auto Parts Inc (NYSE:AAP) will post earnings per share of $1.23 for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Advance Auto Parts’ earnings, with the highest EPS estimate coming in at $1.51 and the lowest estimate coming in at $1.14. Advance Auto Parts reported earnings per share of $1.73 in the same quarter last year, which would indicate a negative year over year growth rate of 28.9%. The company is expected to announce its next quarterly earnings report before the market opens on Tuesday, November 14th.
According to Zacks, analysts expect that Advance Auto Parts will report full-year earnings of $5.16 per share for the current year, with EPS estimates ranging from $4.75 to $5.80. For the next year, analysts expect that the business will post earnings of $6.15 per share, with EPS estimates ranging from $5.20 to $7.41. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.07). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 earnings per share.
A number of research analysts have recently commented on AAP shares. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Advance Auto Parts in a report on Wednesday, October 4th. Bank of America Corporation downgraded Advance Auto Parts from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $150.00 to $90.00 in a research note on Friday, July 7th. Deutsche Bank AG restated a “buy” rating and set a $139.00 target price (down previously from $164.00) on shares of Advance Auto Parts in a research note on Friday, July 21st. Credit Suisse Group set a $100.00 target price on Advance Auto Parts and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, Citigroup Inc downgraded Advance Auto Parts from a “neutral” rating to a “sell” rating and decreased their target price for the company from $99.00 to $82.00 in a research note on Tuesday, September 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. Advance Auto Parts presently has an average rating of “Hold” and an average target price of $117.91.
Institutional investors have recently bought and sold shares of the stock. Tobam bought a new position in shares of Advance Auto Parts during the 2nd quarter worth approximately $118,000. QS Investors LLC lifted its position in shares of Advance Auto Parts by 0.9% during the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after buying an additional 9 shares during the period. Huntington National Bank lifted its position in shares of Advance Auto Parts by 37.1% during the 2nd quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after buying an additional 283 shares during the period. Global X Management Co. LLC lifted its position in shares of Advance Auto Parts by 14.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock worth $130,000 after buying an additional 139 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of Advance Auto Parts by 57.5% during the 2nd quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock worth $141,000 after buying an additional 441 shares during the period.
Advance Auto Parts (AAP) opened at $81.80 on Friday. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90. The company has a current ratio of 1.48, a quick ratio of 0.29 and a debt-to-equity ratio of 0.33.
The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. Advance Auto Parts’s dividend payout ratio (DPR) 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Advance Auto Parts Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts Inc and related companies with MarketBeat.com's FREE daily email newsletter.