Driven Brands (DRVN) Set to Announce Quarterly Earnings on Thursday

Driven Brands (NASDAQ:DRVN - Get Free Report) is scheduled to announce its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.20 per share for the quarter. Driven Brands has set its FY 2024 guidance at 1.000-1.000 EPS.Individual that are interested in participating in the company's earnings conference call can do so using this link.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.07. The business had revenue of $611.60 million during the quarter, compared to analyst estimates of $628.34 million. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.12%. Driven Brands's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. On average, analysts expect Driven Brands to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Driven Brands Price Performance

Shares of NASDAQ:DRVN traded up $0.16 during trading on Thursday, reaching $14.51. The company had a trading volume of 553,237 shares, compared to its average volume of 1,102,132. Driven Brands has a 12 month low of $10.59 and a 12 month high of $16.00. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 3.03. The stock has a market capitalization of $2.38 billion, a P/E ratio of -3.08, a price-to-earnings-growth ratio of 0.83 and a beta of 1.13. The company has a fifty day moving average of $14.24 and a two-hundred day moving average of $13.22.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Baird R W raised Driven Brands to a "strong-buy" rating in a research note on Friday, August 2nd. Benchmark reaffirmed a "buy" rating and issued a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th. Piper Sandler reissued an "overweight" rating and set a $17.00 price target (up from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Driven Brands from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Finally, Robert W. Baird lifted their target price on shares of Driven Brands from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.95.

About Driven Brands

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.