Valvoline (NYSE:VVV) Releases FY24 Earnings Guidance

Valvoline (NYSE:VVV) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.45-1.65 for the period, compared to the consensus estimate of $1.60. The company issued revenue guidance of $1.60-1.65 billion, compared to the consensus revenue estimate of $1.63 billion. Valvoline also updated its FY 2024 guidance to 1.450-1.650 EPS.

Analysts Set New Price Targets

A number of research firms have weighed in on VVV. Morgan Stanley upgraded shares of Valvoline from an equal weight rating to an overweight rating and lifted their price target for the stock from $37.00 to $44.00 in a research note on Tuesday, January 16th. Mizuho began coverage on shares of Valvoline in a research note on Tuesday, March 19th. They issued a buy rating and a $50.00 target price on the stock. Citigroup boosted their target price on shares of Valvoline from $36.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday, March 13th. Finally, Royal Bank of Canada boosted their target price on shares of Valvoline from $43.00 to $45.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. Five research 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 stock has an average rating of Moderate Buy and a consensus price target of $42.75.

Valvoline Price Performance

NYSE VVV traded down $1.51 on Wednesday, hitting $42.70. 1,469,766 shares of the company were exchanged, compared to its average volume of 1,175,639. The firm has a 50 day moving average of $43.22 and a two-hundred day moving average of $38.37. The company has a market cap of $5.54 billion, a P/E 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. Valvoline has a 1-year low of $29.15 and a 1-year high of $45.37.

Valvoline (NYSE:VVV) last issued its quarterly 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. The business had revenue of $373.40 million for the quarter, compared to the consensus estimate of $380.10 million. Valvoline had a net margin of 92.04% and a return on equity of 41.83%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. On average, equities analysts predict that Valvoline will post 1.61 EPS for the current year.

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.