Valvoline (NYSE:VVV) Issues Quarterly Earnings Results

Valvoline (NYSE:VVV) posted its quarterly earnings data on Wednesday. The basic materials company reported $0.37 earnings per share (EPS) 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 for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the company earned $0.23 EPS. 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 0.9 %

Shares of VVV traded down $0.37 during midday trading on Thursday, hitting $41.82. 563,647 shares of the company’s stock traded hands, compared to its average volume of 1,185,320. The company has a current ratio of 2.24, a quick ratio of 2.14 and a debt-to-equity ratio of 24.02. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 5.24 and a beta of 1.45. Valvoline has a 1 year low of $29.15 and a 1 year high of $45.37. The firm’s fifty day moving average is $43.21 and its 200-day moving average is $38.40.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VVV. Mizuho initiated coverage on shares of Valvoline in a research report on Tuesday, March 19th. They issued a “buy” rating and a $50.00 price objective on the stock. Citigroup raised their target price 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 raised their price objective on Valvoline from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley raised Valvoline from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $37.00 to $44.00 in a research report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Valvoline presently has an average rating of “Moderate Buy” and an average price target of $42.75.

About Valvoline

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.