Valvoline (NYSE:VVV) Issues FY24 Earnings Guidance

Valvoline (NYSE:VVV - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Wall Street Analyst Weigh In

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

Valvoline Price Performance

Shares of NYSE:VVV traded down $2.01 on Wednesday, hitting $42.20. The company had a trading volume of 2,929,579 shares, compared to its average volume of 1,192,536. The company has a market cap of $5.47 billion, a PE ratio of 5.49 and a beta of 1.45. The business has a 50 day moving average of $43.22 and a 200 day moving average of $38.37. Valvoline has a 52-week low of $29.15 and a 52-week high of $45.37. 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 (NYSE:VVV - Get Free Report) last released its earnings results on Tuesday, February 6th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.29. Valvoline had a net margin of 92.04% and a return on equity of 41.83%. The company had revenue of $373.40 million for the quarter, compared to analyst estimates of $380.10 million. During the same period in the prior year, the firm earned $0.16 EPS. The firm's quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities analysts anticipate that Valvoline will post 1.61 earnings per share for the current fiscal 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.