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

Valvoline (NYSE:VVV) announced its earnings results 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 company had revenue of $388.70 million for the quarter, compared to the consensus estimate of $390.75 million. Valvoline had a net margin of 92.04% and a return on equity of 41.83%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business 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 Performance

NYSE:VVV traded down $0.37 during trading hours on Thursday, hitting $41.82. 563,647 shares of the company 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. The firm has a 50-day moving average of $43.21 and a 200 day moving average of $38.40. Valvoline has a twelve month low of $29.15 and a twelve month high of $45.37.

Analyst Upgrades and Downgrades

VVV has been the topic of several research analyst reports. Royal Bank of Canada lifted their target price on Valvoline from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Mizuho assumed coverage on shares of Valvoline in a research note on Tuesday, March 19th. They issued a “buy” rating and a $50.00 price objective on the stock. Morgan Stanley raised shares of Valvoline from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $37.00 to $44.00 in a research note on Tuesday, January 16th. Finally, Citigroup increased their price objective on Valvoline from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. 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 stock currently has an average rating of “Moderate Buy” and an average target price 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.