$529.61 Million in Sales Expected for Valvoline Inc. (NYSE:VVV) This Quarter
Equities research analysts expect that Valvoline Inc. (NYSE:VVV) will announce sales of $529.61 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Valvoline’s earnings, with estimates ranging from $520.60 million to $533.30 million. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Valvoline will report full year sales of $529.61 million for the current fiscal year, with estimates ranging from $2.04 billion to $2.08 billion. For the next fiscal year, analysts expect that the business will post sales of $2.17 billion per share, with estimates ranging from $2.13 billion to $2.22 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Valvoline.
Valvoline (NYSE:VVV) last announced its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The firm had revenue of $514 million during the quarter, compared to analysts’ expectations of $501.04 million. Valvoline’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share.
Several research analysts recently issued reports on VVV shares. Zacks Investment Research raised shares of Valvoline from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, June 7th. Seaport Global Securities raised shares of Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, June 7th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $23.00 target price (up previously from $22.00) on shares of Valvoline in a research report on Saturday, June 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Valvoline currently has an average rating of “Buy” and an average target price of $26.18.
A number of institutional investors have recently bought and sold shares of VVV. Vanguard Group Inc. raised its position in Valvoline by 105.1% in the first quarter. Vanguard Group Inc. now owns 3,793,964 shares of the basic materials company’s stock valued at $93,142,000 after buying an additional 1,944,594 shares during the last quarter. JPMorgan Chase & Co. raised its position in Valvoline by 65.9% in the first quarter. JPMorgan Chase & Co. now owns 2,576,593 shares of the basic materials company’s stock valued at $63,255,000 after buying an additional 1,023,423 shares during the last quarter. RidgeWorth Capital Management LLC raised its position in 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 valued at $55,147,000 after buying an additional 56,129 shares during the last quarter. Boston Partners purchased a new position in Valvoline during the first quarter valued at $50,946,000. Finally, Ameriprise Financial Inc. raised its position in Valvoline by 3.1% in the first quarter. Ameriprise Financial Inc. now owns 1,230,636 shares of the basic materials company’s stock valued at $30,205,000 after buying an additional 37,210 shares during the last quarter. Institutional investors own 27.11% of the company’s stock.
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Valvoline (VVV) traded down 0.87% during midday trading on Friday, hitting $22.77. The stock had a trading volume of 2,169,075 shares. Valvoline has a 52-week low of $18.30 and a 52-week high of $24.98. The firm has a 50-day moving average of $23.05 and a 200 day moving average of $22.83. The firm has a market capitalization of $4.66 billion and a P/E ratio of 16.50.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a $0.049 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.20 annualized dividend and a yield of 0.86%.
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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