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

Advance Auto Parts (NYSE:AAP) issued an update on its FY 2024 earnings guidance on Thursday morning. 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 Stock Down 8.5 %

Shares of NYSE AAP opened at $37.69 on Friday. The stock 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 business has a fifty day moving average of $39.02 and a two-hundred day moving average of $54.24. 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.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts expect that Advance Auto Parts will post 2.19 earnings per share for the current fiscal year.

Advance Auto Parts Dividend Announcement

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

Analyst Ratings Changes

AAP has been the subject of a number of research analyst reports. Roth Mkm reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. Mizuho reaffirmed a “neutral” rating and issued a $38.00 price target (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Evercore ISI cut their price target on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a report on Tuesday, October 22nd. UBS Group boosted their price objective on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Wedbush reissued an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a report on Friday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and an average target price 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.