Advance Auto Parts Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
Advance Auto Parts (NYSE:AAP) is set to release its first-quarter financial results, with analysts expecting a slight decrease in earnings per share and a marginal increase in revenue. The company recently appointed three new independent directors and entered into a cooperation agreement with Third Point LLC and Saddle Point Management, L.P. Analysts have provided mixed ratings, with price targets ranging from $62 to $78.
May 28, 2024 | 3:14 pm
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Advance Auto Parts is expected to report Q1 earnings of 70 cents per share, down from 72 cents a year ago, with revenue slightly up at $3.43 billion. The company has appointed three new independent directors and entered into cooperation agreements with Third Point LLC and Saddle Point Management, L.P. Analysts have mixed ratings with price targets ranging from $62 to $78.
The expected slight decrease in EPS and marginal increase in revenue suggest a stable but not significantly improving financial performance. The new board appointments and cooperation agreements indicate potential strategic changes. Mixed analyst ratings reflect uncertainty about the company's short-term prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100