Driven Brands (NASDAQ:DRVN) Releases Earnings Results, Beats Estimates By $0.04 EPS

Driven Brands (NASDAQ:DRVN) posted its quarterly earnings data on Thursday. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04, Briefing.com reports. The business had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 15.03%. Driven Brands’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS. Driven Brands updated its FY 2024 guidance to 1.000-1.000 EPS.

Driven Brands Price Performance

Shares of NASDAQ:DRVN traded down $0.10 during midday trading on Friday, reaching $14.75. 1,119,186 shares of the company’s stock were exchanged, compared to its average volume of 659,860. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.91 and a current ratio of 2.11. The company’s 50 day simple moving average is $14.31 and its two-hundred day simple moving average is $13.21. Driven Brands has a 12 month low of $10.59 and a 12 month high of $16.00. The firm has a market capitalization of $2.42 billion, a PE ratio of 368.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.11.

Analyst Ratings Changes

A number of research firms have issued reports on DRVN. Canaccord Genuity Group upped their price target on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday. Baird R W raised Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $20.00 price objective on shares of Driven Brands in a research report on Tuesday, August 20th. Robert W. Baird increased their price objective on Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $17.00 target price (up from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.45.

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.