Wall Street brokers expect Avis Budget Group, Inc. (NASDAQ:CAR – Get a rating) to report earnings of $3.42 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have released earnings estimates for Avis Budget Group, with estimates ranging from $2.79 to $4.50. Avis Budget Group reported earnings per share of ($0.46) in the same quarter last year, suggesting a positive year-over-year growth rate of 843.5%. The company is expected to release its next earnings report after the market closes on Monday, January 1.
On average, analysts expect Avis Budget Group to report annual earnings of $22.41 per share for the current year, with EPS estimates ranging from $19.18 to $25.39. For next year, analysts expect the company to report earnings of $16.47 per share, with EPS estimates ranging from $13.54 to $21.00. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts who provide coverage for Avis Budget Group.
Avis Budget Group (NASDAQ:CAR – Get a rating) last released its results on Monday, February 14. The business services provider reported earnings per share (EPS) of $7.08 for the quarter, beating analyst consensus estimates of $6.46 by $0.62. The company posted revenue of $2.57 billion for the quarter, versus $2.30 billion expected by analysts. Avis Budget Group recorded a negative return on equity of 942.00% and a net margin of 13.80%. The company’s quarterly revenue increased by 89.6% compared to the same quarter last year. During the same period last year, the company posted ($0.36) earnings per share.
CAR has been the subject of several analyst reports. Barclays reduced its target price on Avis Budget Group from $217.00 to $168.00 and set an “underweight” rating for the company in a Thursday, January 20 report. Deutsche Bank Aktiengesellschaft lowered its price target on Avis Budget Group shares from $210.00 to $193.00 and set a “holding” rating for the company in a Wednesday, Feb. 16 research report. StockNews.com began covering Avis Budget Group shares in a Thursday, March 31 report. They set a “holding” rating for the company. Zacks Investment Research downgraded Avis Budget Group from a “strong buy” rating to a “hold” rating and set a price target of $207.00 for the stock. in a research report on Monday, January 17. Finally, Morgan Stanley lowered its price target on Avis Budget Group shares from $170.00 to $168.00 and set an “underweight” rating for the company in a Wednesday, Feb. 16 research note. . Three investment analysts gave the stock a sell rating and four gave the stock a hold rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $194.33.
Stock CAR opened at $266.48 on Tuesday. The company’s 50-day simple moving average is $224.66 and its 200-day simple moving average is $217.30. The company has a market capitalization of $13.75 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.61 and a beta of 2.15. Avis Budget Group has a 52-week minimum of $65.87 and a 52-week maximum of $545.11.
In other news from the Avis Budget group, the director Lynn Krominga sold 5,823 shares of Avis Budget Group in a transaction that took place on Thursday, March 3. The shares were sold at an average price of $187.50, for a total transaction of $1,091,812.50. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Company insiders hold 27.40% of the company’s stock.
A number of large investors have recently bought and sold shares of CAR. Balyasny Asset Management LLC bought a new position in shares of Avis Budget Group in the third quarter worth $4,117,000. EAM Investors LLC increased its position in Avis Budget Group by 5.0% during the third quarter. EAM Investors LLC now owns 18,465 shares of the business services provider valued at $2,151,000 after buying an additional 877 shares last quarter. JS Capital Management LLC bought a new position in Avis Budget Group in Q3 worth approximately $2,913,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Avis Budget Group shares by 29.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,819 shares of the business services provider worth $1,414,000 after buying an additional 1,562 shares last quarter. Finally, New York State Teachers Retirement System strengthened its position in Avis Budget Group by 1.4% in the 4th quarter. The New York State Teachers’ Retirement System now owns 58,682 shares of the business services provider valued at $12,169,000 after acquiring an additional 820 shares in the last quarter.
Avis Budget Group Company Profile (Get a rating)
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rental, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental company with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated locations and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car-sharing network.
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