Brokerages expect Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Rating) to announce $487.98 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Driven Brands’ earnings. The lowest sales estimate is $469.10 million and the highest is $518.70 million. Driven Brands reported sales of $374.83 million in the same quarter last year, which indicates a positive year-over-year growth rate of 30.2%. The business is scheduled to issue its next earnings results on Monday, January 1st.
On average, analysts expect that Driven Brands will report full year sales of $1.95 billion for the current fiscal year, with estimates ranging from $1.91 billion to $1.98 billion. For the next fiscal year, analysts expect that the company will report sales of $2.16 billion, with estimates ranging from $2.12 billion to $2.19 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Driven Brands.
Driven Brands (NASDAQ:DRVN – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.07. Driven Brands had a net margin of 3.99% and a return on equity of 9.61%. The company had revenue of $468.32 million during the quarter, compared to analyst estimates of $432.59 million. During the same period last year, the business earned $0.19 EPS. The firm’s revenue for the quarter was up 42.2% compared to the same quarter last year.
A number of equities analysts have issued reports on DRVN shares. Zacks Investment Research raised shares of Driven Brands from a “sell” rating to a “hold” rating and set a $33.00 target price on the stock in a report on Tuesday, April 26th. Morgan Stanley boosted their price objective on Driven Brands from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, February 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $38.80.
Large investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in Driven Brands by 66.4% in the third quarter. US Bancorp DE now owns 987 shares of the company’s stock worth $28,000 after purchasing an additional 394 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in Driven Brands during the fourth quarter worth approximately $36,000. Point72 Hong Kong Ltd bought a new position in Driven Brands during the 3rd quarter valued at $73,000. Royal Bank of Canada increased its position in shares of Driven Brands by 1,480.0% during the 2nd quarter. Royal Bank of Canada now owns 2,923 shares of the company’s stock valued at $91,000 after purchasing an additional 2,738 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Driven Brands in the 3rd quarter worth $105,000. 74.43% of the stock is owned by institutional investors.
NASDAQ:DRVN opened at $28.40 on Tuesday. The company has a market cap of $4.76 billion, a P/E ratio of 76.76, a PEG ratio of 1.79 and a beta of 1.13. The business’s 50 day moving average price is $27.18. The company has a current ratio of 1.64, a quick ratio of 1.54 and a debt-to-equity ratio of 1.43. Driven Brands has a 52 week low of $25.02 and a 52 week high of $34.62.
About Driven Brands (Get Rating)
Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. The company offers various services, such as paint, collision, glass, vehicle repair, car wash, oil change, and maintenance services.
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