Driven Brands (DRVN) Scheduled to Post Earnings on Thursday

Driven Brands (NASDAQ:DRVN - Get Free Report) will be announcing its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce 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.Individual interested in participating in the company's earnings conference call can do so using this link.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.03. The firm had revenue of $553.70 million during the quarter, compared to analyst estimates of $572.92 million. Driven Brands had a positive return on equity of 11.00% and a negative net margin of 32.33%. Driven Brands's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.22 EPS. 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 Up 1.3 %

NASDAQ DRVN traded up $0.18 on Thursday, reaching $14.43. 1,062,061 shares of the stock traded hands, compared to its average volume of 1,087,856. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.73 and a current ratio of 1.92. The company has a fifty day moving average price of $14.61 and a 200-day moving average price of $13.45. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -3.19, a PEG ratio of 0.93 and a beta of 1.18. Driven Brands has a 12 month low of $10.60 and a 12 month high of $31.47.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DRVN shares. Royal Bank of Canada cut their price target on Driven Brands from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Monday, February 26th. JPMorgan Chase & Co. dropped their price target on Driven Brands from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 20th. Canaccord Genuity Group boosted their price target on Driven Brands from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, March 18th. Morgan Stanley downgraded Driven Brands from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $22.00 to $14.00 in a research note on Tuesday, January 16th. Finally, Piper Sandler dropped their price target on Driven Brands from $22.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Driven Brands currently has a consensus rating of "Moderate Buy" and an average price target 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.