Valvoline (NYSE:VVV) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Valvoline (NYSE:VVV) released its quarterly earnings data on Wednesday. The basic materials company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04, Briefing.com reports. The business had revenue of $613.00 million during the quarter, compared to the consensus estimate of $610.42 million. Valvoline had a negative return on equity of 75.98% and a net margin of 9.60%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. Valvoline updated its FY19 guidance to $1.30-1.33 EPS.

NYSE VVV traded up $0.07 on Friday, reaching $21.72. The company had a trading volume of 1,598,812 shares, compared to its average volume of 826,800. The company has a 50 day moving average of $19.93. The company has a market capitalization of $3.80 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.00. Valvoline has a 52 week low of $16.90 and a 52 week high of $23.16.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.106 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.42 dividend on an annualized basis and a yield of 1.95%. Valvoline’s dividend payout ratio is presently 32.56%.

A number of equities research analysts recently commented on VVV shares. Monness Crespi & Hardt reiterated a “buy” rating and issued a $24.00 price objective (down previously from $26.00) on shares of Valvoline in a report on Friday, May 3rd. Morgan Stanley set a $19.00 price objective on Valvoline and gave the company a “hold” rating in a report on Thursday, May 2nd. Buckingham Research upgraded Valvoline from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $24.00 in a report on Monday, July 1st. Citigroup upped their price objective on Valvoline from $21.00 to $25.00 and gave the company a “buy” rating in a report on Friday. Finally, Zacks Investment Research upgraded Valvoline from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $22.89.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VVV. BlackRock Inc. increased its holdings in shares of Valvoline by 1.0% in the first quarter. BlackRock Inc. now owns 16,937,413 shares of the basic materials company’s stock worth $314,358,000 after acquiring an additional 174,796 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Valvoline by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 5,908,137 shares of the basic materials company’s stock worth $109,655,000 after acquiring an additional 23,703 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Valvoline by 3.1% in the first quarter. Champlain Investment Partners LLC now owns 4,097,605 shares of the basic materials company’s stock worth $76,052,000 after acquiring an additional 123,035 shares in the last quarter. Wasatch Advisors Inc. increased its holdings in shares of Valvoline by 467.4% in the first quarter. Wasatch Advisors Inc. now owns 3,475,951 shares of the basic materials company’s stock worth $64,514,000 after acquiring an additional 2,863,305 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Valvoline by 14.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,211,421 shares of the basic materials company’s stock worth $62,140,000 after acquiring an additional 403,084 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Valvoline Company Profile

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.

Further Reading: The primary rules of Elliott Wave theory

Earnings History for Valvoline (NYSE:VVV)

Receive News & Ratings for Valvoline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valvoline and related companies with MarketBeat.com's FREE daily email newsletter.