Hertz Global Holdings, Inc (NYSE:HTZ) Expected to Announce Quarterly Sales of $1.67 Billion

Equities research analysts predict that Hertz Global Holdings, Inc (NYSE:HTZ) will report $1.67 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Hertz Global’s earnings. The highest sales estimate is $2.03 billion and the lowest is $1.31 billion. Hertz Global posted sales of $2.84 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 41.2%. The firm is expected to announce its next earnings report on Monday, November 2nd.

On average, analysts expect that Hertz Global will report full year sales of $6.04 billion for the current fiscal year, with estimates ranging from $5.13 billion to $6.95 billion. For the next year, analysts forecast that the business will report sales of $7.56 billion, with estimates ranging from $6.32 billion to $8.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Hertz Global.

Hertz Global (NYSE:HTZ) last announced its earnings results on Monday, August 10th. The transportation company reported ($3.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.86). Hertz Global had a negative return on equity of 38.47% and a negative net margin of 14.55%. The business had revenue of $832.00 million for the quarter, compared to analyst estimates of $918.94 million.

Separately, Deutsche Bank dropped their price target on Hertz Global from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Thursday, August 20th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Hertz Global has an average rating of “Hold” and a consensus target price of $8.00.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley lifted its stake in shares of Hertz Global by 82.4% during the 1st quarter. Morgan Stanley now owns 2,841,853 shares of the transportation company’s stock worth $17,563,000 after purchasing an additional 1,283,827 shares during the period. Aristeia Capital LLC acquired a new position in Hertz Global in the second quarter valued at $1,128,000. Victory Capital Management Inc. lifted its position in Hertz Global by 2,689.8% during the first quarter. Victory Capital Management Inc. now owns 726,678 shares of the transportation company’s stock worth $4,491,000 after buying an additional 700,630 shares during the period. JPMorgan Chase & Co. boosted its stake in Hertz Global by 114.1% in the 1st quarter. JPMorgan Chase & Co. now owns 502,535 shares of the transportation company’s stock worth $3,106,000 after buying an additional 267,856 shares during the last quarter. Finally, Point72 Hong Kong Ltd grew its holdings in Hertz Global by 4,496.9% in the 2nd quarter. Point72 Hong Kong Ltd now owns 210,813 shares of the transportation company’s stock valued at $297,000 after buying an additional 206,227 shares during the period. Institutional investors own 23.01% of the company’s stock.

Shares of Hertz Global stock traded down $0.01 during trading on Monday, hitting $1.10. 5,615,800 shares of the company were exchanged, compared to its average volume of 30,194,258. Hertz Global has a fifty-two week low of $0.40 and a fifty-two week high of $20.85. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 19.29. The firm has a 50 day moving average price of $1.41 and a 200 day moving average price of $2.74. The stock has a market capitalization of $173.39 million, a price-to-earnings ratio of -0.14 and a beta of 1.38.

About Hertz Global

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc, operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 9,700 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand.

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