Advance Auto Parts, Inc. (NYSE:AAP) announced a quarterly dividend on Thursday, May 23rd, Wall Street Journal reports. Investors of record on Friday, June 21st will be paid a dividend of 0.06 per share on Friday, July 5th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, June 20th.
Advance Auto Parts has a payout ratio of 3.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Advance Auto Parts to earn $9.50 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 2.5%.
Shares of NYSE AAP traded down $6.49 during mid-day trading on Thursday, reaching $159.80. 2,398,069 shares of the company were exchanged, compared to its average volume of 1,208,266. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.44. The stock has a market capitalization of $11.57 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97. Advance Auto Parts has a 1 year low of $120.96 and a 1 year high of $186.15.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.10. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Advance Auto Parts had a return on equity of 14.64% and a net margin of 4.42%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 EPS. As a group, equities research analysts anticipate that Advance Auto Parts will post 8.12 earnings per share for the current fiscal year.
A number of equities research analysts have commented on AAP shares. Zacks Investment Research upgraded Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Credit Suisse Group reiterated a “buy” rating and issued a $195.00 price target on shares of Advance Auto Parts in a research note on Tuesday, February 19th. Jefferies Financial Group decreased their price target on Advance Auto Parts to $195.00 and set a “buy” rating for the company in a research note on Wednesday, February 20th. Royal Bank of Canada decreased their price target on Advance Auto Parts to $178.00 and set an “outperform” rating for the company in a research note on Tuesday, May 14th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $175.00 price target on shares of Advance Auto Parts in a research note on Tuesday, February 19th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Advance Auto Parts currently has a consensus rating of “Buy” and an average price target of $190.71.
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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.
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