Advance Auto Parts, Inc. Declares Quarterly Dividend of $0.25 (NYSE:AAP)

Advance Auto Parts, Inc. (NYSE:AAP) announced a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Shareholders of record on Friday, January 10th will be paid a dividend of 0.25 per share on Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, January 10th.

Advance Auto Parts has raised its dividend by an average of 38.7% per year over the last three years. Advance Auto Parts has a payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Advance Auto Parts to earn $2.97 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 33.7%.

Advance Auto Parts Trading Down 8.5 %

Shares of AAP stock opened at $37.69 on Friday. Advance Auto Parts has a 52-week low of $35.59 and a 52-week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The firm has a market capitalization of $2.25 billion, a PE ratio of 51.63, a PEG ratio of 1.33 and a beta of 1.17. The stock has a fifty day simple moving average of $39.02 and a two-hundred day simple moving average of $54.24.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS. On average, analysts predict that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AAP shares. Evercore ISI cut their price objective on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a research report on Tuesday, October 22nd. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a research report on Friday. Wells Fargo & Company cut their price objective on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. The Goldman Sachs Group cut their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday. Finally, DA Davidson restated a “neutral” rating and set a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and a consensus price target of $49.14.

Advance Auto Parts Company Profile

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.