Driven Brands (DRVN) to Post Earnings on Thursday

Key Points

• Driven Brands is expected to report quarterly earnings before the market opens on Thursday, July 30, with analysts forecasting $0.2638 EPS on $506.3 million in revenue.
• The company’s most recent quarter beat expectations, posting $0.30 EPS versus the $0.24 consensus, while revenue came in at $484.44 million, slightly above estimates.
• Wall Street sentiment is mixed but generally positive, with a consensus “Moderate Buy” rating and an average price target of $17.18 for DRVN.

Driven Brands (NASDAQ:DRVN - Get Free Report) will likely be posting its results before the market opens on Thursday, July 30th. Analysts expect the company to post earnings of $0.2638 per share and revenue of $506.3320 million for the quarter.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings results on Thursday, June 11th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Driven Brands had a net margin of 9.08% and a return on equity of 25.70%. The firm had revenue of $484.44 million during the quarter, compared to analysts' expectations of $480.84 million. During the same quarter last year, the company posted $0.27 earnings per share. The company's revenue for the quarter was down 6.2% 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 Trading Down 3.0%

Shares of NASDAQ:DRVN opened at $14.13 on Thursday. Driven Brands has a 52-week low of $9.80 and a 52-week high of $19.74. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.25 and a current ratio of 1.38. The company has a market capitalization of $2.33 billion, a P/E ratio of 12.62 and a beta of 0.96. The company has a 50-day simple moving average of $13.86 and a 200 day simple moving average of $13.78.

Hedge Funds Weigh In On Driven Brands

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its holdings in shares of Driven Brands by 14.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,826,160 shares of the company's stock worth $56,704,000 after purchasing an additional 491,919 shares during the period. Boston Partners raised its position in shares of Driven Brands by 1,301.0% in the fourth quarter. Boston Partners now owns 3,426,388 shares of the company's stock valued at $50,783,000 after buying an additional 3,181,812 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Driven Brands by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,234,369 shares of the company's stock valued at $47,933,000 after buying an additional 86,281 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Driven Brands by 9.3% in the fourth quarter. Janus Henderson Group PLC now owns 2,477,179 shares of the company's stock valued at $36,712,000 after buying an additional 209,883 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Driven Brands by 19.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,161,642 shares of the company's stock worth $32,038,000 after buying an additional 354,540 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DRVN has been the subject of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $14.75 price objective on shares of Driven Brands in a research report on Wednesday, May 20th. Piper Sandler boosted their target price on Driven Brands from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, May 20th. Benchmark restated a "buy" rating on shares of Driven Brands in a research note on Tuesday, May 26th. Robert W. Baird set a $18.00 price target on Driven Brands and gave the company an "outperform" rating in a report on Wednesday, May 20th. Finally, BTIG Research reaffirmed a "buy" rating and set a $17.00 price objective on shares of Driven Brands in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Driven Brands has an average rating of "Moderate Buy" and a consensus target price of $17.18.

About Driven Brands

Driven Brands Holdings Inc NASDAQ: DRVN is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company's platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.

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