Wall Street brokerages expect Valvoline Inc (NYSE:VVV) to post $529.56 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Valvoline’s earnings, with the highest sales estimate coming in at $533.3 million and the lowest estimate coming in at $520.6 million. The business is expected to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Valvoline will report full-year sales of $529.56 million for the current year, with estimates ranging from $2.04 billion to $2.08 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.17 billion per share, with estimates ranging from $2.12 billion to $2.22 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Valvoline.
Valvoline (NYSE:VVV) last announced its earnings results on Tuesday, April 25th. The basic materials company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.03. The business had revenue of $514 million for the quarter, compared to analyst estimates of $501.04 million. During the same quarter last year, the company posted $0.33 EPS. Valvoline’s quarterly revenue was up 7.1% on a year-over-year basis.
A number of analysts have recently issued reports on VVV shares. Zacks Investment Research downgraded shares of Valvoline from a “buy” rating to a “hold” rating in a report on Thursday, April 6th. Monness Crespi & Hardt lifted their price objective on shares of Valvoline from $26.00 to $28.00 and gave the company a “buy” rating in a report on Monday, January 30th. Finally, Seaport Global Securities downgraded shares of Valvoline from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a report on Tuesday, January 31st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $26.00.
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Shares of Valvoline (NYSE:VVV) traded down 1.48% during midday trading on Thursday, hitting $22.61. 8,985,641 shares of the stock traded hands. The firm has a 50-day moving average price of $23.26 and a 200 day moving average price of $22.29. Valvoline has a one year low of $18.30 and a one year high of $24.98. The stock has a market cap of $4.62 billion and a price-to-earnings ratio of 16.38.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a dividend of $0.049 per share. The ex-dividend date is Tuesday, May 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.87%.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Valvoline by 105.1% in the first quarter. Vanguard Group Inc. now owns 3,793,964 shares of the basic materials company’s stock worth $93,142,000 after buying an additional 1,944,594 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Valvoline by 65.9% in the first quarter. JPMorgan Chase & Co. now owns 2,576,593 shares of the basic materials company’s stock worth $63,255,000 after buying an additional 1,023,423 shares during the last quarter. RidgeWorth Capital Management LLC increased its position in shares of Valvoline by 2.6% in the first quarter. RidgeWorth Capital Management LLC now owns 2,246,329 shares of the basic materials company’s stock worth $55,147,000 after buying an additional 56,129 shares during the last quarter. Boston Partners purchased a new position in shares of Valvoline during the first quarter worth $50,946,000. Finally, Janus Capital Management LLC increased its position in shares of Valvoline by 709.7% in the fourth quarter. Janus Capital Management LLC now owns 1,702,242 shares of the basic materials company’s stock worth $36,598,000 after buying an additional 1,492,001 shares during the last quarter. Institutional investors and hedge funds own 18.50% of the company’s stock.
Valvoline Inc (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers.
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