Analysts Expect Advance Auto Parts, Inc. (NYSE:AAP) Will Post Earnings of $1.36 Per Share

Wall Street brokerages expect Advance Auto Parts, Inc. (NYSE:AAP) to post earnings of $1.36 per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Advance Auto Parts’ earnings, with the highest EPS estimate coming in at $1.40 and the lowest estimate coming in at $1.33. Advance Auto Parts posted earnings per share of $1.17 in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.2%. The company is expected to report its next earnings results on Tuesday, February 18th.

On average, analysts expect that Advance Auto Parts will report full-year earnings of $7.94 per share for the current fiscal year, with EPS estimates ranging from $7.86 to $7.99. For the next year, analysts forecast that the business will post earnings of $9.02 per share, with EPS estimates ranging from $8.89 to $9.36. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. Advance Auto Parts had a net margin of 4.58% and a return on equity of 15.61%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Advance Auto Parts’s quarterly revenue was up 1.6% on a year-over-year basis.

Several research firms recently commented on AAP. Atlantic Securities lowered shares of Advance Auto Parts from an “overweight” rating to a “neutral” rating and set a $159.00 price objective on the stock. in a research note on Thursday. JPMorgan Chase & Co. lowered shares of Advance Auto Parts from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $168.00 to $163.00 in a research note on Monday, January 13th. Nomura reiterated a “hold” rating and issued a $160.00 target price (down previously from $162.00) on shares of Advance Auto Parts in a research note on Wednesday, November 13th. Raymond James initiated coverage on shares of Advance Auto Parts in a research note on Monday, October 7th. They issued a “market perform” rating on the stock. Finally, Wedbush dropped their target price on shares of Advance Auto Parts to in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $166.33.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its holdings in shares of Advance Auto Parts by 287.6% during the first quarter. FMR LLC now owns 139,025 shares of the company’s stock valued at $23,708,000 after purchasing an additional 103,160 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Advance Auto Parts by 8.9% during the second quarter. Schroder Investment Management Group now owns 625,208 shares of the company’s stock valued at $96,370,000 after purchasing an additional 50,848 shares during the last quarter. MML Investors Services LLC purchased a new position in shares of Advance Auto Parts during the second quarter valued at approximately $678,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Advance Auto Parts by 16.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,379,461 shares of the company’s stock valued at $675,051,000 after purchasing an additional 634,441 shares during the last quarter. Finally, Profund Advisors LLC raised its holdings in shares of Advance Auto Parts by 18.4% during the second quarter. Profund Advisors LLC now owns 2,378 shares of the company’s stock valued at $367,000 after purchasing an additional 370 shares during the last quarter.

NYSE:AAP traded down $8.05 during mid-day trading on Friday, hitting $141.68. 1,277,148 shares of the company’s stock were exchanged, compared to its average volume of 1,119,284. Advance Auto Parts has a one year low of $130.09 and a one year high of $182.56. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.31 and a quick ratio of 0.32. The business has a fifty day moving average price of $154.71 and a 200 day moving average price of $154.64. The company has a market cap of $10.23 billion, a PE ratio of 22.85, a P/E/G ratio of 1.51 and a beta of 0.84.

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were paid a $0.06 dividend. The ex-dividend date was Thursday, December 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.17%. Advance Auto Parts’s dividend payout ratio is presently 3.37%.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.

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Earnings History and Estimates for Advance Auto Parts (NYSE:AAP)

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