Valvoline (NYSE:VVV) Posts Earnings Results

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

Valvoline Trading Down 1.0 %

Shares of VVV stock traded down $0.41 during trading hours on Thursday, reaching $41.78. 447,135 shares of the stock traded hands, compared to its average volume of 1,183,895. Valvoline has a 1-year low of $29.15 and a 1-year high of $45.37. The business has a fifty day moving average price of $43.21 and a 200 day moving average price of $38.40. The company has a quick ratio of 2.14, a current ratio of 2.24 and a debt-to-equity ratio of 24.02. The firm has a market capitalization of $5.42 billion, a PE ratio of 5.24 and a beta of 1.45.

Wall Street Analysts Forecast Growth

VVV has been the topic of a number of recent analyst reports. Morgan Stanley upgraded shares of Valvoline from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $37.00 to $44.00 in a research report on Tuesday, January 16th. Royal Bank of Canada boosted 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. Citigroup boosted their target price on shares of Valvoline from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Finally, Mizuho initiated coverage on shares of Valvoline in a report on Tuesday, March 19th. They issued a “buy” rating and a $50.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.75.

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.