Valvoline (NYSE:VVV) Issues FY 2024 Earnings Guidance

Valvoline (NYSE:VVV) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.450-1.650 for the period, compared to the consensus estimate of 1.600. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion. Valvoline also updated its FY24 guidance to $1.45-1.65 EPS.

Analyst Ratings Changes

VVV has been the subject of a number of recent analyst reports. Morgan Stanley raised shares of Valvoline from an equal weight rating to an overweight rating and lifted their price objective for the company from $37.00 to $44.00 in a report on Tuesday, January 16th. Royal Bank of Canada lifted their target price on shares of Valvoline from $43.00 to $45.00 and gave the company an outperform rating in a research report on Wednesday, February 7th. Citigroup increased their price objective on Valvoline from $36.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday, March 13th. Finally, Mizuho started coverage on shares of Valvoline in a report on Tuesday, March 19th. They set a buy rating and a $50.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $42.75.

Valvoline Trading Down 4.8 %

VVV stock traded down $2.14 during trading on Wednesday, reaching $42.07. 1,123,901 shares of the stock were exchanged, compared to its average volume of 1,171,141. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 5.49 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.14 and a debt-to-equity ratio of 24.02. The business has a 50 day moving average price of $43.22 and a 200-day moving average price of $38.37. Valvoline has a 1 year low of $29.15 and a 1 year high of $45.37.

Valvoline (NYSE:VVV) last posted its earnings results on Tuesday, February 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. Valvoline had a return on equity of 41.83% and a net margin of 92.04%. The company had revenue of $373.40 million during the quarter, compared to analysts’ expectations of $380.10 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, research analysts predict that Valvoline will post 1.61 earnings per share for the current year.

About Valvoline

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.