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

Equities analysts expect Advance Auto Parts, Inc. (NYSE:AAP) to announce earnings of $1.36 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Advance Auto Parts’ earnings. The highest EPS estimate is $1.40 and the lowest is $1.33. Advance Auto Parts reported earnings of $1.17 per share in the same quarter last year, which suggests a positive year over year growth rate of 16.2%. The company is expected to issue its next earnings report on Tuesday, February 18th.

On average, analysts expect that Advance Auto Parts will report full year earnings of $7.93 per share for the current fiscal year, with EPS estimates ranging from $7.86 to $7.99. For the next fiscal year, analysts anticipate that the company will report earnings of $9.02 per share, with EPS estimates ranging from $8.89 to $9.36. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $2.10 earnings per share for the quarter, beating the Zacks’ 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 period last year, the business earned $1.89 EPS. The company’s revenue was up 1.6% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the stock. Wedbush reduced their price objective on shares of Advance Auto Parts to in a report on Monday. Raymond James assumed coverage on shares of Advance Auto Parts in a report on Monday, October 7th. They issued a “market perform” rating on the stock. Wolfe Research lowered shares of Advance Auto Parts from an “outperform” rating to a “peer perform” rating and set a $128.00 price objective on the stock. in a report on Tuesday, October 8th. JPMorgan Chase & Co. lowered shares of Advance Auto Parts from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $168.00 to $163.00 in a report on Monday. Finally, Nomura restated a “hold” rating and issued a $160.00 price objective (down from $162.00) on shares of Advance Auto Parts in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $166.86.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Advance Auto Parts by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,477,868 shares of the company’s stock worth $1,152,638,000 after purchasing an additional 56,160 shares during the last quarter. BlackRock Inc. grew its position in Advance Auto Parts by 7.2% during the 2nd quarter. BlackRock Inc. now owns 5,326,148 shares of the company’s stock worth $820,972,000 after purchasing an additional 358,324 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Advance Auto Parts by 16.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,379,461 shares of the company’s stock worth $675,051,000 after purchasing an additional 634,441 shares during the last quarter. UBS Group AG grew its position in Advance Auto Parts by 97.8% during the 2nd quarter. UBS Group AG now owns 969,660 shares of the company’s stock worth $149,464,000 after purchasing an additional 479,456 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Advance Auto Parts by 81.3% during the 2nd quarter. Bank of America Corp DE now owns 870,271 shares of the company’s stock worth $134,144,000 after purchasing an additional 390,177 shares during the last quarter.

Shares of AAP traded down $0.89 during midday trading on Friday, reaching $151.05. The stock had a trading volume of 817,440 shares, compared to its average volume of 1,109,795. Advance Auto Parts has a 1-year low of $130.09 and a 1-year high of $182.56. The company’s fifty day simple moving average is $155.75 and its two-hundred day simple moving average is $155.01. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 1.52 and a beta of 0.84. 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 also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $0.24 annualized dividend and a yield of 0.16%. Advance Auto Parts’s dividend payout ratio is currently 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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