Advance Auto Parts (NYSE:AAP) Releases FY 2024 Earnings Guidance

Advance Auto Parts (NYSE:AAP) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -0.600-0.000 for the period, compared to the consensus estimate of 1.670. The company issued revenue guidance of $9.0 billion-$9.0 billion, compared to the consensus revenue estimate of $9.7 billion. Advance Auto Parts also updated its FY 2025 guidance to EPS.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $37.68 on Friday. The business has a fifty day moving average price of $39.02 and a two-hundred day moving average price of $54.37. The stock has a market capitalization of $2.25 billion, a PE ratio of 51.62, a P/E/G ratio of 1.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned $1.43 EPS. As a group, equities analysts predict that Advance Auto Parts will post 2.19 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s dividend payout ratio (DPR) is 136.99%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group decreased their price target on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday. Royal Bank of Canada decreased their target price on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. Evercore ISI reduced their price target on shares of Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 22nd. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price target on shares of Advance Auto Parts in a report on Friday. Finally, TD Cowen dropped their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.14.

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.