Valvoline (VVV) Posts Quarterly Earnings Results, Hits Expectations

Valvoline (NYSE:VVV) announced its earnings results on Monday. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34, Briefing.com reports. The company had revenue of $594.00 million for the quarter, compared to analyst estimates of $593.80 million. Valvoline had a negative return on equity of 124.61% and a net margin of 10.10%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 earnings per share. Valvoline updated its FY19 guidance to $1.35-1.43 EPS.

NYSE VVV traded up $0.79 on Wednesday, reaching $19.85. The stock had a trading volume of 876,648 shares, compared to its average volume of 1,386,583. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.10 and a beta of 0.93. Valvoline has a 12-month low of $17.49 and a 12-month high of $25.63.

A number of brokerages have issued reports on VVV. Morgan Stanley cut their target price on Valvoline from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 2nd. JPMorgan Chase & Co. lowered Valvoline from a “neutral” rating to an “underweight” rating and cut their target price for the company from $22.00 to $20.00 in a research report on Friday, September 14th. ValuEngine raised Valvoline from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Zacks Investment Research lowered Valvoline from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Finally, Seaport Global Securities reissued a “hold” rating and issued a $25.00 target price on shares of Valvoline in a research report on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.78.

A number of hedge funds and other institutional investors have recently made changes to their positions in VVV. First Hawaiian Bank purchased a new stake in shares of Valvoline during the third quarter worth $113,000. GSA Capital Partners LLP purchased a new stake in shares of Valvoline during the second quarter worth $245,000. Oakbrook Investments LLC purchased a new stake in shares of Valvoline during the third quarter worth $264,000. Jane Street Group LLC purchased a new stake in shares of Valvoline during the second quarter worth $280,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Valvoline by 110.7% during the second quarter. BNP Paribas Arbitrage SA now owns 17,280 shares of the basic materials company’s stock worth $373,000 after acquiring an additional 9,079 shares during the period. 98.45% of the stock is currently owned by institutional investors.

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Valvoline Company Profile

Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. The company offers lubricants for passenger car/light duty and heavy duty; antifreeze/coolants for original equipment manufacturers; functional and maintenance chemicals, such as brake fluids and power steering fluids, as well as specialty coatings for automotive and industrial applications comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.

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Earnings History for Valvoline (NYSE:VVV)

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