$3.53 EPS Expected for Advance Auto Parts, Inc. (NYSE:AAP) This Quarter

Brokerages predict that Advance Auto Parts, Inc. (NYSE:AAPGet Rating) will report $3.53 earnings per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Advance Auto Parts’ earnings, with the highest EPS estimate coming in at $3.97 and the lowest estimate coming in at $2.61. Advance Auto Parts reported earnings per share of $3.34 in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.7%. The firm is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Advance Auto Parts will report full-year earnings of $13.77 per share for the current financial year, with EPS estimates ranging from $13.50 to $14.10. For the next year, analysts forecast that the company will post earnings of $15.79 per share, with EPS estimates ranging from $14.79 to $16.55. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Advance Auto Parts.

Advance Auto Parts (NYSE:AAPGet Rating) last posted its earnings results on Monday, February 14th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.37 billion. Advance Auto Parts had a net margin of 5.60% and a return on equity of 23.63%. Advance Auto Parts’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.87 EPS.

A number of analysts have recently weighed in on AAP shares. Morgan Stanley upped their price target on shares of Advance Auto Parts from $235.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 16th. Citigroup increased their target price on shares of Advance Auto Parts from $290.00 to $294.00 and gave the company a “buy” rating in a research note on Wednesday, February 16th. Truist Financial assumed coverage on shares of Advance Auto Parts in a report on Thursday, January 13th. They set a “buy” rating and a $273.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Advance Auto Parts from $255.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 15th. Finally, Royal Bank of Canada assumed coverage on shares of Advance Auto Parts in a report on Thursday, January 27th. They set a “sector perform” rating and a $239.00 price target on the stock. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $256.65.

Shares of NYSE:AAP opened at $199.63 on Friday. The company has a 50 day moving average of $211.46 and a 200-day moving average of $224.23. The firm has a market cap of $12.20 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.28 and a beta of 1.29. Advance Auto Parts has a twelve month low of $187.16 and a twelve month high of $244.55. The company has a current ratio of 1.21, a quick ratio of 0.31 and a debt-to-equity ratio of 0.33.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, March 18th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.01%. The ex-dividend date was Thursday, March 17th. This is a positive change from Advance Auto Parts’s previous quarterly dividend of $1.00. Advance Auto Parts’s dividend payout ratio is currently 62.96%.

Institutional investors have recently added to or reduced their stakes in the business. Central Bank & Trust Co. bought a new stake in Advance Auto Parts in the first quarter worth approximately $29,000. Life Planning Partners Inc bought a new stake in Advance Auto Parts in the fourth quarter worth approximately $30,000. First Horizon Advisors Inc. grew its position in Advance Auto Parts by 423.5% in the third quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock worth $39,000 after acquiring an additional 216 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Advance Auto Parts in the first quarter worth approximately $41,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in Advance Auto Parts in the first quarter worth approximately $46,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

About Advance Auto Parts (Get Rating)

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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