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

Advance Auto Parts (NYSE:AAP) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of -0.600-0.000 for the period, compared to the consensus EPS 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 AAP opened at $37.69 on Friday. The firm has a market cap of $2.25 billion, a PE ratio of 51.63, a PEG ratio of 1.33 and a beta of 1.17. The firm’s 50 day moving average price is $39.02 and its 200 day moving average price is $54.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. Advance Auto Parts has a twelve month low of $35.59 and a twelve month high of $88.56.

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

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.65%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

Analysts Set New Price Targets

AAP has been the topic of several research analyst reports. The Goldman Sachs Group lowered their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Roth Mkm restated a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. UBS Group raised their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Wells Fargo & Company lowered their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.