Valvoline (NYSE:VVV) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Valvoline (NYSE:VVV) posted its earnings results on Wednesday. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01, Briefing.com reports. The business had revenue of $388.70 million during the quarter, compared to analysts’ expectations of $390.75 million. Valvoline had a return on equity of 41.83% and a net margin of 92.04%. During the same period in the prior year, the business earned $0.23 EPS. Valvoline’s revenue for the quarter was up 12.8% compared to the same quarter last year. Valvoline updated its FY 2024 guidance to 1.450-1.650 EPS and its FY24 guidance to $1.45-1.65 EPS.

Valvoline Stock Down 1.0 %

NYSE VVV traded down $0.41 during trading on Thursday, hitting $41.78. The stock had a trading volume of 447,135 shares, compared to its average volume of 1,183,895. The company has a market capitalization of $5.42 billion, a PE ratio of 5.24 and a beta of 1.45. The company’s 50-day moving average price is $43.21 and its two-hundred day moving average price is $38.40. The company has a debt-to-equity ratio of 24.02, a quick ratio of 2.14 and a current ratio of 2.24. Valvoline has a 12 month low of $29.15 and a 12 month high of $45.37.

Wall Street Analysts Forecast Growth

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

Valvoline Company Profile

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.