Q2 2024 Earnings Estimate for Valvoline Inc. Issued By Seaport Res Ptn (NYSE:VVV)

Valvoline Inc. (NYSE:VVV) – Seaport Res Ptn lifted their Q2 2024 earnings estimates for Valvoline in a report issued 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 prior forecast of $0.32. The consensus estimate for Valvoline’s current full-year earnings is $1.61 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.

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

VVV has been the subject of a number of other research reports. Mizuho assumed coverage on shares of Valvoline in a report on Tuesday, March 19th. They set a “buy” rating and a $50.00 price objective for the company. Citigroup raised their price objective on shares of Valvoline from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Royal Bank of Canada raised their price objective on shares of Valvoline from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley upgraded shares of Valvoline from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $37.00 to $44.00 in a report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.75.

Valvoline Price Performance

VVV opened at $41.19 on Thursday. 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 company’s 50-day moving average is $42.68 and its 200 day moving average is $37.34. Valvoline has a fifty-two week low of $29.15 and a fifty-two week high of $45.37. The firm has a market capitalization of $5.34 billion, a P/E ratio of 5.12 and a beta of 1.44.

Hedge Funds Weigh In On Valvoline

Several large investors have recently modified their holdings of VVV. Park Place Capital Corp purchased a new position in shares of Valvoline in the fourth quarter worth about $26,000. Belpointe Asset Management LLC increased its holdings in Valvoline by 54.9% during the 1st 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. GAMMA Investing LLC bought a new stake in Valvoline during the 4th quarter worth approximately $35,000. First Manhattan CO. LLC. bought a new stake in Valvoline during the 1st quarter worth approximately $35,000. Finally, Principal Securities Inc. bought a new stake in Valvoline during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Company Profile

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.