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

Wall Street brokerages expect Hertz Global Holdings, Inc (NYSE:HTZ) to announce sales of $1.67 billion for the current fiscal quarter, Zacks reports. Two analysts have issued 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 company is scheduled to issue its next quarterly earnings results on Monday, November 2nd.

On average, analysts expect that Hertz Global will report full-year sales of $6.04 billion for the current financial year, with estimates ranging from $5.13 billion to $6.95 billion. For the next fiscal 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’ sales averages are an average based on a survey of sell-side research analysts that cover Hertz Global.

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

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

A number of large investors have recently made changes to their positions in HTZ. GSA Capital Partners LLP lifted its stake in Hertz Global by 16.4% during the first quarter. GSA Capital Partners LLP now owns 33,118 shares of the transportation company’s stock worth $205,000 after purchasing an additional 4,670 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Hertz Global by 277.7% in the first quarter. Russell Investments Group Ltd. now owns 10,840 shares of the transportation company’s stock worth $66,000 after acquiring an additional 7,970 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of Hertz Global in the 1st quarter valued at approximately $41,000. Legal & General Group Plc grew its holdings in shares of Hertz Global by 4.3% during the 1st quarter. Legal & General Group Plc now owns 269,364 shares of the transportation company’s stock valued at $1,665,000 after purchasing an additional 11,041 shares during the last quarter. Finally, World Asset Management Inc increased its position in Hertz Global by 82.6% during the 2nd quarter. World Asset Management Inc now owns 24,583 shares of the transportation company’s stock worth $35,000 after purchasing an additional 11,122 shares in the last quarter. 23.01% of the stock is currently owned by institutional investors and hedge funds.

HTZ stock traded down $0.01 during trading hours on Monday, hitting $1.10. 5,615,800 shares of the stock were exchanged, compared to its average volume of 30,194,258. Hertz Global has a 12 month low of $0.40 and a 12 month high of $20.85. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 19.29. The firm has a market capitalization of $173.39 million, a P/E ratio of -0.14 and a beta of 1.38. The company has a 50-day simple moving average of $1.41 and a two-hundred day simple moving average of $2.74.

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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Earnings History and Estimates for Hertz Global (NYSE:HTZ)

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