Wall Street brokerages forecast that Valvoline Inc (NYSE:VVV) will announce $620.55 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Valvoline’s earnings, with the lowest sales estimate coming in at $620.40 million and the highest estimate coming in at $620.74 million. Valvoline posted sales of $629.00 million during the same quarter last year, which suggests a negative year over year growth rate of 1.3%. The firm is expected to report its next earnings results on Wednesday, November 4th.
On average, analysts expect that Valvoline will report full-year sales of $2.32 billion for the current financial year, with estimates ranging from $2.28 billion to $2.34 billion. For the next financial year, analysts expect that the business will report sales of $2.48 billion, with estimates ranging from $2.34 billion to $2.57 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Valvoline.
Valvoline (NYSE:VVV) last issued its quarterly earnings data on Monday, August 3rd. The basic materials company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The company had revenue of $516.00 million for the quarter, compared to analyst estimates of $506.47 million. Valvoline had a net margin of 9.53% and a negative return on equity of 121.96%. The company’s revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share.
VVV has been the topic of several analyst reports. SunTrust Banks upgraded Valvoline from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Thursday, June 4th. Morgan Stanley upped their price target on Valvoline from $16.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. ValuEngine upgraded Valvoline from a “sell” rating to a “hold” rating in a research report on Thursday, August 6th. Zacks Investment Research upgraded Valvoline from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. upgraded Valvoline from a “neutral” rating to an “overweight” rating and set a $26.00 price target on the stock in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Valvoline has an average rating of “Buy” and an average target price of $23.33.
Shares of VVV traded up $0.37 during trading hours on Thursday, hitting $20.54. The company had a trading volume of 1,224,813 shares, compared to its average volume of 1,003,710. The business has a fifty day moving average of $21.20 and a 200-day moving average of $18.28. Valvoline has a 12 month low of $9.06 and a 12 month high of $23.90. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 4.01 and a beta of 1.44.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.113 dividend. This represents a $0.45 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, August 28th. Valvoline’s dividend payout ratio (DPR) is 32.37%.
In other Valvoline news, insider Julie Marie O’daniel sold 1,186 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $21.84, for a total value of $25,902.24. Also, SVP Craig A. Moughler sold 9,092 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $22.00, for a total value of $200,024.00. Following the completion of the sale, the senior vice president now directly owns 15,022 shares of the company’s stock, valued at approximately $330,484. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP boosted its stake in Valvoline by 44.9% in the second quarter. Allworth Financial LP now owns 1,559 shares of the basic materials company’s stock worth $30,000 after buying an additional 483 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Valvoline by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 46,200 shares of the basic materials company’s stock valued at $893,000 after purchasing an additional 600 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Valvoline by 22.1% during the second quarter. Parkside Financial Bank & Trust now owns 4,468 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 809 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Valvoline by 0.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 263,776 shares of the basic materials company’s stock valued at $3,453,000 after purchasing an additional 896 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of Valvoline by 5.1% during the second quarter. Baird Financial Group Inc. now owns 19,922 shares of the basic materials company’s stock valued at $391,000 after purchasing an additional 974 shares during the period. 92.26% of the stock is owned by institutional investors and hedge funds.
Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. The company offers lubricants for passenger car, light duty, and heavy duty; antifreeze/coolants for original equipment manufacturers; functional and maintenance chemicals, such as brake fluids and power steering fluids, as well as specialty coatings for automotive and industrial applications comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.
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