Driven Brands Holdings Inc. (NASDAQ:DRVN) Expected to Announce Earnings of $0.29 Per Share

Wall Street brokerages expect that Driven Brands Holdings Inc. (NASDAQ:DRVNGet Rating) will report earnings per share (EPS) of $0.29 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Driven Brands’ earnings. The lowest EPS estimate is $0.26 and the highest is $0.36. Driven Brands reported earnings per share of $0.25 in the same quarter last year, which indicates a positive year over year growth rate of 16%. The company is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Driven Brands will report full-year earnings of $1.11 per share for the current financial year, with EPS estimates ranging from $1.08 to $1.20. For the next fiscal year, analysts expect that the business will post earnings of $1.28 per share, with EPS estimates ranging from $1.21 to $1.44. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Driven Brands.

Driven Brands (NASDAQ:DRVNGet Rating) last posted its earnings results on Wednesday, April 27th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.21 by $0.07. The firm had revenue of $468.32 million for the quarter, compared to analyst estimates of $432.59 million. Driven Brands had a return on equity of 9.61% and a net margin of 3.99%. Driven Brands’s revenue for the quarter was up 42.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share.

Several brokerages have recently weighed in on DRVN. Zacks Investment Research upgraded shares of Driven Brands from a “sell” rating to a “hold” rating and set a $33.00 target price for the company in a research note on Tuesday, April 26th. Morgan Stanley raised their price objective on shares of Driven Brands from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, February 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $38.80.

Several large investors have recently modified their holdings of the company. Strs Ohio bought a new stake in shares of Driven Brands in the 1st quarter worth approximately $1,756,000. Norges Bank bought a new stake in shares of Driven Brands in the 4th quarter worth approximately $12,518,000. BlackRock Inc. raised its holdings in shares of Driven Brands by 3.9% in the 4th quarter. BlackRock Inc. now owns 2,065,720 shares of the company’s stock worth $69,448,000 after purchasing an additional 76,720 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Driven Brands by 22.7% in the 4th quarter. Wells Fargo & Company MN now owns 92,807 shares of the company’s stock worth $3,121,000 after purchasing an additional 17,180 shares in the last quarter. Finally, Franklin Street Capital Partners LLC bought a new stake in shares of Driven Brands in the 4th quarter worth approximately $337,000. 73.70% of the stock is owned by institutional investors.

NASDAQ DRVN traded down $0.85 during trading hours on Friday, hitting $27.89. The company had a trading volume of 551,626 shares, compared to its average volume of 402,376. 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 1-year low of $25.02 and a 1-year high of $34.62. The stock has a market cap of $4.67 billion, a P/E ratio of 75.38, a PEG ratio of 1.84 and a beta of 1.13. The firm has a 50 day moving average of $27.18.

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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