Valvoline (NYSE:VVV) Issues FY 2024 Earnings Guidance

Valvoline (NYSE:VVV) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of -1.550 for the period, compared to the consensus earnings per share estimate of 1.570. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion.

Valvoline Stock Up 0.3 %

Shares of NYSE VVV traded up $0.11 on Friday, reaching $39.87. 1,702,684 shares of the company’s stock traded hands, compared to its average volume of 1,226,201. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 15.83. The business’s 50 day simple moving average is $43.26 and its two-hundred day simple moving average is $42.22. Valvoline has a 12 month low of $29.15 and a 12 month high of $48.26. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 31.64 and a beta of 1.43.

Valvoline (NYSE:VVV) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). Valvoline had a net margin of 11.78% and a return on equity of 136.59%. The company had revenue of $421.00 million for the quarter, compared to the consensus estimate of $425.17 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. Valvoline’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that Valvoline will post 1.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on VVV shares. Piper Sandler initiated coverage on shares of Valvoline in a research report on Wednesday, June 12th. They issued an overweight rating and a $49.00 target price for the company. Royal Bank of Canada reduced their price objective on Valvoline from $54.00 to $48.00 and set an outperform rating for the company in a research report on Thursday. Citigroup raised their target price on Valvoline from $45.00 to $48.00 and gave the stock a neutral rating in a research report on Friday, July 19th. Finally, Wells Fargo & Company reduced their price target on shares of Valvoline from $50.00 to $46.00 and set an overweight rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Valvoline has an average rating of Moderate Buy and a consensus target price of $46.00.

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.