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

Valvoline (NYSE:VVV) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01, Briefing.com reports. The business had revenue of $388.70 million for 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%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. 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 0.9 %

VVV stock traded down $0.40 during trading hours on Thursday, reaching $41.79. 538,434 shares of the stock were exchanged, compared to its average volume of 1,184,992. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 5.24 and a beta of 1.45. The firm’s 50-day moving average is $43.21 and its 200-day moving average is $38.40. Valvoline has a 12 month low of $29.15 and a 12 month high of $45.37. The company has a debt-to-equity ratio of 24.02, a current ratio of 2.24 and a quick ratio of 2.14.

Analyst Ratings Changes

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