Equities Analysts Set Expectations for Driven Brands Holdings Inc.’s Q3 2022 Earnings (NASDAQ:DRVN)

Driven Brands Holdings Inc. (NASDAQ:DRVNGet Rating) – Investment analysts at William Blair lifted their Q3 2022 earnings per share estimates for Driven Brands in a research note issued to investors on Wednesday, July 27th. William Blair analyst S. Zackfia now anticipates that the company will earn $0.25 per share for the quarter, up from their previous forecast of $0.21. The consensus estimate for Driven Brands’ current full-year earnings is $1.11 per share. William Blair also issued estimates for Driven Brands’ Q4 2022 earnings at $0.30 EPS, FY2022 earnings at $1.19 EPS, FY2023 earnings at $1.33 EPS and FY2024 earnings at $1.54 EPS.

Driven Brands Stock Performance

NASDAQ:DRVN opened at $30.38 on Friday. The firm has a market cap of $5.09 billion, a PE ratio of 82.11, a price-to-earnings-growth ratio of 1.59 and a beta of 0.52. Driven Brands has a fifty-two week low of $24.62 and a fifty-two week high of $34.62. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.15 and a current ratio of 1.27. The business has a 50 day moving average price of $28.40 and a 200-day moving average price of $28.04.

Driven Brands (NASDAQ:DRVNGet Rating) last issued its earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $508.60 million during the quarter, compared to analyst estimates of $480.37 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 35.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share.

Institutional Trading of Driven Brands

Institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC purchased a new stake in shares of Driven Brands during the first quarter valued at approximately $28,000. Covestor Ltd boosted its stake in shares of Driven Brands by 1,790.0% during the first quarter. Covestor Ltd now owns 3,780 shares of the company’s stock valued at $99,000 after purchasing an additional 3,580 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Driven Brands during the first quarter valued at approximately $128,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Driven Brands during the fourth quarter valued at approximately $213,000. Finally, Citigroup Inc. boosted its stake in shares of Driven Brands by 18.6% during the first quarter. Citigroup Inc. now owns 6,598 shares of the company’s stock valued at $173,000 after purchasing an additional 1,034 shares during the period. Hedge funds and other institutional investors 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.

See Also

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

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