Valvoline Inc. (NYSE:VVV) Forecasted to Post Q2 2024 Earnings of $0.34 Per Share

Valvoline Inc. (NYSE:VVV) – Stock analysts at Seaport Res Ptn raised their Q2 2024 earnings estimates for shares of Valvoline in a note issued to investors on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings per share of $0.34 for the quarter, up from their previous forecast of $0.32. The consensus estimate for Valvoline’s current full-year earnings is $1.60 per share. Seaport Res Ptn also issued estimates for Valvoline’s Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.50 EPS and FY2024 earnings at $1.63 EPS.

Other equities research analysts have also issued reports about the stock. Morgan Stanley upgraded shares of Valvoline from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $37.00 to $44.00 in a research note on Tuesday, January 16th. Mizuho initiated 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. Royal Bank of Canada lifted their price objective on shares of Valvoline from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Citigroup lifted their price objective on shares of Valvoline from $36.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.75.

Valvoline Price Performance

Shares of NYSE:VVV opened at $41.25 on Thursday. The company’s fifty day moving average price is $42.62 and its 200 day moving average price is $37.25. Valvoline has a 12 month low of $29.15 and a 12 month high of $45.37. The company has a debt-to-equity ratio of 24.02, a current ratio of 2.24 and a quick ratio of 2.14. The firm has a market capitalization of $5.35 billion, a P/E ratio of 5.12 and a beta of 1.44.

Valvoline (NYSE:VVV) last announced its quarterly earnings results on Tuesday, February 6th. The basic materials company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. Valvoline had a net margin of 92.04% and a return on equity of 41.83%. The firm had revenue of $373.40 million for the quarter, compared to analyst estimates of $380.10 million. During the same period last year, the business earned $0.16 EPS. Valvoline’s revenue for the quarter was up 12.2% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Valvoline by 20.3% during the fourth quarter. Fifth Third Bancorp now owns 1,876 shares of the basic materials company’s stock worth $70,000 after acquiring an additional 316 shares during the period. Belpointe Asset Management LLC increased its stake in shares of Valvoline by 54.9% during the first quarter. Belpointe Asset Management LLC now owns 931 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 330 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Valvoline by 23.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,940 shares of the basic materials company’s stock worth $73,000 after acquiring an additional 364 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Valvoline by 6.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,045 shares of the basic materials company’s stock worth $265,000 after acquiring an additional 403 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Valvoline by 3.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,738 shares of the basic materials company’s stock worth $411,000 after buying an additional 428 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

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.