$529.61 Million in Sales Expected for Valvoline Inc. (NYSE:VVV) This Quarter
Equities analysts expect Valvoline Inc. (NYSE:VVV) to announce sales of $529.61 million for the current quarter, according to Zacks. Four analysts have made estimates for Valvoline’s earnings, with the lowest sales estimate coming in at $520.60 million and the highest estimate coming in at $533.30 million. The business is expected to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Valvoline will report full year sales of $529.61 million for the current financial year, with estimates ranging from $2.04 billion to $2.08 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.17 billion per share, with estimates ranging from $2.13 billion to $2.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Valvoline.
Valvoline (NYSE:VVV) last announced its earnings results on Tuesday, April 25th. The basic materials company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. The business had revenue of $514 million for the quarter, compared to the consensus estimate of $501.04 million. During the same quarter in the previous year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis.
VVV has been the topic of several research reports. Zacks Investment Research raised Valvoline from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, June 7th. Seaport Global Securities raised Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Wednesday, June 7th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $23.00 price target (up from $22.00) on shares of Valvoline in a research report on Saturday, June 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.18.
Several hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in shares of Valvoline by 630.1% in the first quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock valued at $137,000 after buying an additional 4,808 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Valvoline by 1,210.5% in the first quarter. Legal & General Group Plc now owns 8,204 shares of the basic materials company’s stock valued at $201,000 after buying an additional 7,578 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Valvoline during the first quarter valued at about $203,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Valvoline during the first quarter valued at about $218,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Valvoline during the first quarter valued at about $254,000. Hedge funds and other institutional investors own 27.11% of the company’s stock.
Valvoline (NYSE VVV) traded down 0.87% on Friday, reaching $22.77. The company had a trading volume of 2,169,075 shares. The firm has a market capitalization of $4.66 billion and a price-to-earnings ratio of 16.50. Valvoline has a one year low of $18.30 and a one year high of $24.98. The company’s 50 day moving average is $23.05 and its 200-day moving average is $22.83.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given a dividend of $0.049 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, May 30th.
Valvoline Company Profile
Valvoline Inc (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers.
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