Valvoline Inc. (VVV) Issues FY17 Earnings Guidance

Valvoline Inc. (VVV) Issues FY17 Earnings Guidance

Valvoline Inc. (NYSE:VVV) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.36-1.43 for the period, compared to the Thomson Reuters consensus estimate of $1.30. The company issued revenue guidance of +3-5% to ~$1.987-2.025 billion, compared to the consensus revenue estimate of $2.00 billion.

Shares of Valvoline Inc. (NYSE:VVV) opened at 23.66 on Monday. Valvoline Inc. has a 12-month low of $18.30 and a 12-month high of $24.98. The firm’s 50-day moving average price is $21.62 and its 200-day moving average price is $21.53. The firm has a market capitalization of $4.85 billion and a P/E ratio of 17.40.

Valvoline (NYSE:VVV) last posted its quarterly earnings data on Thursday, January 26th. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. The business had revenue of $489 million for the quarter, compared to analyst estimates of $473.95 million. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts predict that Valvoline Inc. will post $1.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be paid a $0.049 dividend. The ex-dividend date of this dividend is Monday, February 27th. This represents a $0.20 annualized dividend and a yield of 0.83%.

Several brokerages recently issued reports on VVV. Bank of America Corporation began coverage on shares of Valvoline in a research note on Tuesday, October 18th. They issued a buy rating and a $27.00 target price for the company. SunTrust Banks, Inc. began coverage on shares of Valvoline in a research note on Tuesday, October 18th. They issued a hold rating and a $25.00 target price for the company. Deutsche Bank AG began coverage on shares of Valvoline in a research note on Tuesday, October 18th. They issued a hold rating and a $24.00 target price for the company. Morgan Stanley began coverage on shares of Valvoline in a research note on Tuesday, October 18th. They issued an equal weight rating and a $26.00 target price for the company. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of Valvoline in a research note on Tuesday, October 18th. They issued a neutral rating and a $24.00 target price for the company. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $26.00.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new stake in Valvoline during the third quarter valued at about $112,547,000. BlackRock Group LTD purchased a new stake in Valvoline during the third quarter valued at about $1,557,000. Morgan Stanley purchased a new stake in Valvoline during the third quarter valued at about $613,000. Bank of New York Mellon Corp purchased a new stake in Valvoline during the third quarter valued at about $581,000. Finally, Emerald Acquisition Ltd. purchased a new stake in Valvoline during the third quarter valued at about $263,000. 17.93% of the stock is currently owned by institutional investors.

About Valvoline

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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