Driven Brands (DRVN) to Release Earnings on Thursday

Driven Brands (NASDAQ:DRVN) will post its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect Driven Brands to post earnings of $0.20 per share for the quarter. Driven Brands has set its FY 2024 guidance at 1.000-1.000 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.07. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.12%. The business had revenue of $611.60 million during the quarter, compared to the consensus estimate of $628.34 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. 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

DRVN stock opened at $14.10 on Wednesday. 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 firm’s 50-day moving average price is $14.29 and its two-hundred day moving average price is $13.19. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -3.00, a PEG ratio of 0.83 and a beta of 1.13.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Benchmark reiterated 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 reiterated an “overweight” rating and issued a $17.00 price target (up from $14.00) on shares of Driven Brands in a research report on Friday, August 2nd. The Goldman Sachs Group increased their price target on shares of Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their price objective on shares of Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group increased their price objective on shares of Driven Brands from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.95.

Driven Brands Company Profile

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.