Driven Brands (NASDAQ:DRVN) Posts Earnings Results, Beats Estimates By $0.07 EPS

Driven Brands (NASDAQ:DRVN) released its quarterly earnings results on Thursday. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07, Briefing.com reports. Driven Brands had a positive return on equity of 15.31% and a negative net margin of 33.56%. The business had revenue of $611.60 million during the quarter, compared to analysts’ expectations of $628.34 million. During the same period in the previous year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Driven Brands updated its FY 2024 guidance to 1.000-1.000 EPS.

Driven Brands Stock Down 6.5 %

Shares of DRVN traded down $0.94 on Friday, hitting $13.57. The company’s stock had a trading volume of 1,014,118 shares, compared to its average volume of 1,129,919. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 3.20. The firm’s fifty day moving average price is $12.36 and its 200-day moving average price is $13.21. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $16.57. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -2.91, a P/E/G ratio of 0.85 and a beta of 1.12.

Analyst Ratings Changes

A number of analysts recently commented on DRVN shares. Piper Sandler reiterated an “overweight” rating and issued a $17.00 price objective (up from $14.00) on shares of Driven Brands in a research report on Friday. BMO Capital Markets started coverage on Driven Brands in a research report on Monday, July 22nd. They issued a “market perform” rating and a $14.00 price objective for the company. Royal Bank of Canada lifted their price objective on Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday. The Goldman Sachs Group lifted their price objective on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Barclays lowered their price objective on Driven Brands from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.68.

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.