Valvoline (NYSE:VVV) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Valvoline (NYSE:VVV - Get Free Report) announced its quarterly earnings data on Wednesday. The basic materials company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01, Briefing.com reports. The business had revenue of $388.70 million during the quarter, compared to analyst estimates of $390.75 million. Valvoline had a return on equity of 41.83% and a net margin of 92.04%. The company's revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Valvoline updated its FY 2024 guidance to 1.450-1.650 EPS and its FY24 guidance to $1.45-1.65 EPS.

Valvoline Stock Down 0.6 %

Shares of VVV stock traded down $0.25 on Thursday, reaching $41.94. 1,315,997 shares of the company's stock traded hands, compared to its average volume of 1,193,908. The business's 50 day moving average price is $43.21 and its two-hundred day moving average price is $38.40. The company has a market capitalization of $5.44 billion, a P/E ratio of 5.24 and a beta of 1.45. The company has a debt-to-equity ratio of 24.02, a quick ratio of 2.14 and a current ratio of 2.24. Valvoline has a 12-month low of $29.15 and a 12-month high of $45.37.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Valvoline in a research report on Tuesday, March 19th. They set a "buy" rating and a $50.00 price objective for the company. Citigroup lifted their price target on shares of Valvoline from $36.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 13th. Royal Bank of Canada increased their price objective on Valvoline from $43.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley upgraded Valvoline from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $37.00 to $44.00 in a report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.75.

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.