Q3 2017 EPS Estimates for Advance Auto Parts Inc Reduced by Analyst (AAP)
Advance Auto Parts Inc (NYSE:AAP) – Research analysts at Oppenheimer Holdings reduced their Q3 2017 earnings per share (EPS) estimates for Advance Auto Parts in a report released on Monday. Oppenheimer Holdings analyst B. Nagel now forecasts that the company will post earnings per share of $1.24 for the quarter, down from their prior estimate of $1.51. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Advance Auto Parts’ Q4 2017 earnings at $0.76 EPS and FY2017 earnings at $5.18 EPS.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.18. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/11/15/q3-2017-eps-estimates-for-advance-auto-parts-inc-reduced-by-analyst-aap.html.
Advance Auto Parts (NYSE:AAP) opened at $95.72 on Wednesday. Advance Auto Parts has a twelve month low of $78.81 and a twelve month high of $177.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.48 and a quick ratio of 0.29. The stock has a market cap of $6,077.41, a price-to-earnings ratio of 13.92, a PEG ratio of 1.50 and a beta of 0.90.
Several institutional investors and hedge funds have recently made changes to their positions in AAP. Tobam purchased a new position in shares of Advance Auto Parts in the 2nd quarter valued at about $118,000. QS Investors LLC increased its holdings in shares of Advance Auto Parts by 0.9% in the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after purchasing an additional 9 shares in the last quarter. Huntington National Bank increased its holdings in shares of Advance Auto Parts by 37.1% in the 2nd quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after purchasing an additional 283 shares in the last quarter. Global X Management Co. LLC increased its holdings in shares of Advance Auto Parts by 14.3% in the 2nd quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after purchasing an additional 139 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Advance Auto Parts by 57.5% in the 2nd quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock valued at $141,000 after purchasing an additional 441 shares in the last quarter.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. Advance Auto Parts’s payout ratio is currently 4.80%.
About Advance Auto Parts
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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