Equities research analysts forecast that Avis Budget Group Inc. (NASDAQ:CAR) will report $2.06 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Avis Budget Group’s earnings, with the lowest sales estimate coming in at $2.03 billion and the highest estimate coming in at $2.09 billion. Avis Budget Group posted sales of $2.02 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2%. The company is expected to announce its next quarterly earnings results on Wednesday, February 20th.
According to Zacks, analysts expect that Avis Budget Group will report full-year sales of $9.12 billion for the current fiscal year, with estimates ranging from $9.09 billion to $9.17 billion. For the next fiscal year, analysts anticipate that the business will post sales of $9.30 billion, with estimates ranging from $9.20 billion to $9.42 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Avis Budget Group.
Avis Budget Group (NASDAQ:CAR) last released its earnings results on Monday, November 5th. The business services provider reported $3.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.54 by ($0.21). The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.81 billion. Avis Budget Group had a net margin of 4.09% and a return on equity of 60.18%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.10 EPS.
CAR has been the topic of a number of recent research reports. BidaskClub raised Avis Budget Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Deutsche Bank set a $45.00 price target on Avis Budget Group and gave the company a “buy” rating in a research note on Thursday, October 25th. Goldman Sachs Group set a $30.00 price target on Avis Budget Group and gave the company a “sell” rating in a research note on Tuesday, October 16th. Finally, Zacks Investment Research upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.00.
In other Avis Budget Group news, SVP David T. Calabria sold 1,700 shares of the business’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $29.29, for a total transaction of $49,793.00. Following the sale, the senior vice president now directly owns 7,661 shares in the company, valued at $224,390.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CAR. Tower Research Capital LLC TRC lifted its position in shares of Avis Budget Group by 2,182.1% in the third quarter. Tower Research Capital LLC TRC now owns 6,390 shares of the business services provider’s stock valued at $205,000 after acquiring an additional 6,110 shares in the last quarter. Sei Investments Co. lifted its position in shares of Avis Budget Group by 69.9% in the second quarter. Sei Investments Co. now owns 7,068 shares of the business services provider’s stock valued at $230,000 after acquiring an additional 2,907 shares in the last quarter. Cerebellum GP LLC lifted its position in shares of Avis Budget Group by 7,427.9% in the fourth quarter. Cerebellum GP LLC now owns 9,711 shares of the business services provider’s stock valued at $218,000 after acquiring an additional 9,582 shares in the last quarter. NumerixS Investment Technologies Inc lifted its position in shares of Avis Budget Group by 164.1% in the second quarter. NumerixS Investment Technologies Inc now owns 10,300 shares of the business services provider’s stock valued at $331,000 after acquiring an additional 6,400 shares in the last quarter. Finally, First Quadrant L P CA purchased a new stake in shares of Avis Budget Group in the third quarter valued at $346,000.
Shares of NASDAQ:CAR traded up $0.44 during trading on Friday, reaching $26.01. The company had a trading volume of 1,488,300 shares, compared to its average volume of 1,611,988. The firm has a market cap of $1.94 billion, a P/E ratio of 9.13 and a beta of 1.88. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 27.75. Avis Budget Group has a fifty-two week low of $21.63 and a fifty-two week high of $50.88.
About Avis Budget Group
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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