Valvoline (NYSE:VVV) Updates FY24 Earnings Guidance

Valvoline (NYSE:VVV) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.45-1.65 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VVV. Morgan Stanley raised shares of Valvoline from an equal weight rating to an overweight rating and upped their price objective for the stock from $37.00 to $44.00 in a research report on Tuesday, January 16th. Royal Bank of Canada upped their price objective on shares of Valvoline from $43.00 to $45.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Citigroup upped their price objective 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. Finally, Mizuho began coverage on shares of Valvoline in a research note on Tuesday, March 19th. They issued a buy rating and a $50.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $42.75.

Valvoline Price Performance

Shares of NYSE:VVV traded down $1.51 during trading on Wednesday, reaching $42.70. The company had a trading volume of 1,469,766 shares, compared to its average volume of 1,175,639. The company has a fifty day moving average of $43.22 and a two-hundred day moving average of $38.37. The stock has a market capitalization of $5.54 billion, a P/E ratio of 5.49 and a beta of 1.45. Valvoline has a 12 month low of $29.15 and a 12 month 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) last released its earnings results on Tuesday, February 6th. The basic materials company reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The company had revenue of $373.40 million for the quarter, compared to analyst estimates of $380.10 million. Valvoline had a net margin of 92.04% and a return on equity of 41.83%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. Equities research analysts forecast that Valvoline will post 1.61 earnings per share for the current year.

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.