Brokerages Anticipate Avis Budget Group Inc. (NASDAQ:CAR) Will Announce Earnings of $0.50 Per Share

Brokerages expect Avis Budget Group Inc. (NASDAQ:CAR) to report earnings per share of $0.50 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Avis Budget Group’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.58. Avis Budget Group reported earnings per share of $0.53 during the same quarter last year, which indicates a negative year-over-year growth rate of 5.7%. The company is expected to issue its next earnings results on Wednesday, February 19th.

According to Zacks, analysts expect that Avis Budget Group will report full year earnings of $3.47 per share for the current fiscal year, with EPS estimates ranging from $3.41 to $3.55. For the next financial year, analysts forecast that the business will post earnings of $3.57 per share, with EPS estimates ranging from $2.93 to $4.08. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Avis Budget Group.

Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Thursday, October 31st. The business services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.65 by ($0.69). The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.84 billion. Avis Budget Group had a net margin of 1.91% and a return on equity of 66.13%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.33 earnings per share.

A number of research firms have issued reports on CAR. Barclays reiterated a “hold” rating and set a $33.00 price target on shares of Avis Budget Group in a research note on Wednesday, October 23rd. TheStreet downgraded Avis Budget Group from a “b-” rating to a “c” rating in a research note on Monday, September 16th. Deutsche Bank set a $31.00 price target on Avis Budget Group and gave the company a “hold” rating in a research note on Monday, November 4th. BidaskClub upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Finally, Northcoast Research reiterated a “buy” rating on shares of Avis Budget Group in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Avis Budget Group has a consensus rating of “Hold” and a consensus price target of $34.40.

A number of hedge funds have recently added to or reduced their stakes in CAR. Advisors Preferred LLC purchased a new position in shares of Avis Budget Group in the 2nd quarter worth approximately $30,000. Pearl River Capital LLC boosted its stake in shares of Avis Budget Group by 51.6% in the 2nd quarter. Pearl River Capital LLC now owns 1,483 shares of the business services provider’s stock worth $52,000 after buying an additional 505 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Avis Budget Group by 13.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,294 shares of the business services provider’s stock worth $116,000 after buying an additional 403 shares during the last quarter. Convergence Investment Partners LLC boosted its stake in shares of Avis Budget Group by 9.7% in the 3rd quarter. Convergence Investment Partners LLC now owns 4,129 shares of the business services provider’s stock worth $117,000 after buying an additional 364 shares during the last quarter. Finally, Exane Derivatives purchased a new position in shares of Avis Budget Group in the 2nd quarter worth approximately $132,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

CAR stock traded down $0.63 during mid-day trading on Monday, reaching $30.96. 1,146,300 shares of the company traded hands, compared to its average volume of 1,317,638. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 8.48 and a beta of 2.09. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 34.23. Avis Budget Group has a fifty-two week low of $21.63 and a fifty-two week high of $37.27. The firm’s 50 day moving average price is $28.91 and its 200 day moving average price is $30.80.

Avis Budget Group Company Profile

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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