Zacks: Analysts Expect Driven Brands Holdings Inc. (NASDAQ:DRVN) to Announce $0.29 Earnings Per Share

Analysts expect Driven Brands Holdings Inc. (NASDAQ:DRVNGet Rating) to post $0.29 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have issued estimates for Driven Brands’ earnings. The lowest EPS estimate is $0.26 and the highest is $0.36. Driven Brands posted earnings per share of $0.25 during the same quarter last year, which suggests a positive year over year growth rate of 16%. The business is expected to report its next earnings results on Monday, January 1st.

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

Driven Brands (NASDAQ:DRVNGet Rating) last issued its earnings results on Wednesday, April 27th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. The business had revenue of $468.32 million during the quarter, compared to analysts’ expectations of $432.59 million. Driven Brands had a net margin of 3.99% and a return on equity of 9.59%. The business’s revenue for the quarter was up 42.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share.

DRVN has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Driven Brands from a “sell” rating to a “hold” rating and set a $33.00 price target for the company in a research note on Tuesday, April 26th. Morgan Stanley lifted their price target 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 research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $38.80.

Shares of DRVN stock traded up $0.55 during trading hours on Friday, reaching $26.92. The company had a trading volume of 712,045 shares, compared to its average volume of 516,716. The business has a fifty day moving average price of $26.92 and a 200-day moving average price of $29.33. Driven Brands has a one year low of $24.62 and a one year high of $34.62. The firm has a market cap of $4.51 billion, a PE ratio of 72.76, a price-to-earnings-growth ratio of 1.66 and a beta of 0.51. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.15 and a current ratio of 1.27.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors boosted its position in shares of Driven Brands by 12.4% in the first quarter. Capital World Investors now owns 2,228,000 shares of the company’s stock worth $58,552,000 after purchasing an additional 245,000 shares during the period. Walleye Capital LLC bought a new position in shares of Driven Brands in the first quarter worth approximately $1,619,000. Jane Street Group LLC boosted its position in shares of Driven Brands by 189.6% in the first quarter. Jane Street Group LLC now owns 26,779 shares of the company’s stock worth $704,000 after purchasing an additional 17,533 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Driven Brands in the first quarter worth approximately $128,000. Finally, Quantbot Technologies LP bought a new position in shares of Driven Brands in the first quarter worth approximately $251,000. Institutional investors and hedge funds own 74.43% of the company’s stock.

Driven Brands Company Profile (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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Earnings History and Estimates for Driven Brands (NASDAQ:DRVN)

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