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 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, June 20th.
Advance Auto Parts has a payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. 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 AAP stock opened at $159.80 on Friday. Advance Auto Parts has a 12-month low of $120.96 and a 12-month high of $186.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.44 and a current ratio of 1.57. The company has a market capitalization of $11.57 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.54 and a beta of 0.97.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, May 22nd. The company reported $2.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.10. Advance Auto Parts had a net margin of 4.42% and a return on equity of 14.64%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company posted $2.10 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Advance Auto Parts will post 8.12 EPS for the current year.
AAP has been the topic of several research reports. Zacks Investment Research upgraded shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Credit Suisse Group restated a “buy” rating and set a $195.00 price objective on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Jefferies Financial Group decreased their price objective on shares of Advance Auto Parts to $195.00 and set a “buy” rating on the stock in a research report on Wednesday, February 20th. Royal Bank of Canada decreased their price objective on shares of Advance Auto Parts to $178.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 14th. Finally, Wells Fargo & Co restated a “hold” rating and set a $175.00 price objective on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Advance Auto Parts currently has an average rating of “Buy” and a consensus 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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