Advance Auto Parts, Inc. (AAP) to Issue Quarterly Dividend of $0.06

Advance Auto Parts, Inc. (NYSE:AAP) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Investors of record on Friday, March 23rd will be paid a dividend of 0.06 per share on Friday, April 6th. This represents a $0.24 annualized dividend and a yield of 0.22%.

Advance Auto Parts has a payout ratio of 4.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Advance Auto Parts to earn $6.32 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 3.8%.

Shares of Advance Auto Parts (NYSE AAP) traded down $2.27 during mid-day trading on Wednesday, hitting $109.93. The stock had a trading volume of 2,163,545 shares, compared to its average volume of 1,320,000. The company has a quick ratio of 0.32, a current ratio of 1.52 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $8,120.00, a price-to-earnings ratio of 23.05, a PEG ratio of 1.80 and a beta of 1.14. Advance Auto Parts has a fifty-two week low of $78.81 and a fifty-two week high of $169.55.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, November 14th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.18. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.21 billion. Advance Auto Parts had a return on equity of 13.51% and a net margin of 3.75%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. equities analysts expect that Advance Auto Parts will post 5.24 earnings per share for the current year.

A number of brokerages have recently weighed in on AAP. Stephens set a $108.00 price objective on Advance Auto Parts and gave the company a “hold” rating in a report on Tuesday, January 16th. Jefferies Group cut their price objective on Advance Auto Parts from $130.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Moffett Nathanson began coverage on Advance Auto Parts in a report on Monday, December 4th. They issued a “neutral” rating on the stock. Morgan Stanley increased their price objective on Advance Auto Parts from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research raised Advance Auto Parts from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 17th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $109.91.

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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.

Dividend History for Advance Auto Parts (NYSE:AAP)

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