Equities research analysts expect that Avis Budget Group Inc. (NASDAQ:CAR) will post $0.48 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Avis Budget Group’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.58. Avis Budget Group reported earnings per share of $0.53 in the same quarter last year, which would suggest a negative year over year growth rate of 9.4%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, February 19th.
On average, analysts expect that Avis Budget Group will report full-year earnings of $3.45 per share for the current year, with EPS estimates ranging from $3.37 to $3.55. For the next financial year, analysts expect that the business will post earnings of $3.75 per share, with EPS estimates ranging from $2.93 to $4.48. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Avis Budget Group.
Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Thursday, October 31st. The business services provider reported $2.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.65 by ($0.69). Avis Budget Group had a return on equity of 66.13% and a net margin of 1.91%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the business earned $3.33 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year.
A number of equities research analysts have weighed in on the company. Deutsche Bank reaffirmed a “hold” rating and issued a $31.00 price objective on shares of Avis Budget Group in a report on Wednesday, November 20th. BidaskClub lowered Avis Budget Group from a “strong-buy” rating to a “buy” rating in a report on Friday. Jefferies Financial Group assumed coverage on Avis Budget Group in a report on Thursday, November 21st. They issued a “buy” rating on the stock. TheStreet raised Avis Budget Group from a “c” rating to a “b-” rating in a report on Friday, December 6th. Finally, ValuEngine raised Avis Budget Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.40.
In other news, CEO Shon Larry D. De sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $33.00, for a total transaction of $825,000.00. Following the sale, the chief executive officer now owns 270,574 shares of the company’s stock, valued at approximately $8,928,942. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Convergence Investment Partners LLC boosted its stake in shares of Avis Budget Group by 9.7% during the 3rd quarter. Convergence Investment Partners LLC now owns 4,129 shares of the business services provider’s stock worth $117,000 after acquiring an additional 364 shares in the last quarter. Dupont Capital Management Corp boosted its stake in shares of Avis Budget Group by 10.2% during the 3rd quarter. Dupont Capital Management Corp now owns 5,913 shares of the business services provider’s stock worth $167,000 after acquiring an additional 549 shares in the last quarter. NEXT Financial Group Inc boosted its stake in shares of Avis Budget Group by 89.3% during the 4th quarter. NEXT Financial Group Inc now owns 1,295 shares of the business services provider’s stock worth $42,000 after acquiring an additional 611 shares in the last quarter. World Asset Management Inc boosted its stake in shares of Avis Budget Group by 8.3% during the 3rd quarter. World Asset Management Inc now owns 8,441 shares of the business services provider’s stock worth $239,000 after acquiring an additional 650 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Avis Budget Group by 25.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,132 shares of the business services provider’s stock worth $117,000 after acquiring an additional 838 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.
CAR traded down $0.36 during trading on Friday, reaching $34.20. The company’s stock had a trading volume of 461,139 shares, compared to its average volume of 911,162. Avis Budget Group has a 52-week low of $23.86 and a 52-week high of $37.27. The company’s fifty day moving average price is $33.20 and its 200-day moving average price is $30.65. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 15.07 and a beta of 2.09. The company has a debt-to-equity ratio of 34.23, a quick ratio of 0.94 and a current ratio of 0.94.
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 5,500 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 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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