Driven Brands (DRVN) to Release Earnings on Thursday

Driven Brands (NASDAQ:DRVN) is set to post its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect Driven Brands to post earnings of $0.18 per share for the quarter. Driven Brands has set its FY 2024 guidance at 0.880-1.000 EPS and its FY24 guidance at $0.88-$1.00 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. Driven Brands had a negative net margin of 32.33% and a positive return on equity of 11.00%. The firm had revenue of $553.70 million during the quarter, compared to the consensus estimate of $572.92 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. On average, analysts expect Driven Brands to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Driven Brands Stock Down 0.9 %

DRVN stock traded down $0.13 during trading on Tuesday, reaching $14.39. 82,341 shares of the stock were exchanged, compared to its average volume of 1,080,164. The company has a quick ratio of 1.73, a current ratio of 1.92 and a debt-to-equity ratio of 3.21. Driven Brands has a twelve month low of $10.60 and a twelve month high of $30.83. The firm’s 50 day moving average is $14.62 and its 200 day moving average is $13.52.

Analyst Ratings Changes

DRVN has been the subject of several research reports. Canaccord Genuity Group lifted their price target on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, March 18th. JPMorgan Chase & Co. dropped their price target on shares of Driven Brands from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. Piper Sandler decreased their price objective on shares of Driven Brands from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. Royal Bank of Canada decreased their price objective on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Finally, Morgan Stanley downgraded shares of Driven Brands from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $14.00 in a research report on Tuesday, January 16th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

Driven Brands Company Profile

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.