Earnings per share of $3.42 expected for Avis Budget Group, Inc. (NASDAQ:CAR) this quarter
Analysts expect Avis Budget Group, Inc. (NASDAQ:CAR – Get a rating) will report earnings per share of $3.42 for the current fiscal quarter, according to Zacks Investment Research. Two analysts provided earnings estimates for Avis Budget Group, with the highest EPS estimate of $4.50 and the lowest estimate of $2.79. Avis Budget Group reported earnings per share of ($0.46) in the same quarter last year, suggesting a positive year-over-year growth rate of 843.5%. The company is due to release its next quarterly earnings report on Monday, May 2.
On average, analysts expect Avis Budget Group to report annual earnings of $22.41 per share for the current fiscal year, with EPS estimates ranging from $19.18 to $25.39. For the next fiscal year, analysts expect the company to report earnings of $16.47 per share, with EPS estimates ranging from $13.54 to $21.00. Zacks’ earnings per share calculations are an average based on a survey of research firms that track Avis Budget Group.
Avis Budget Group (NASDAQ: CAR – Get a rating) last announced its quarterly results on Sunday, February 13. The business services provider reported earnings per share of $7.08 for the quarter, beating Thomson Reuters’ consensus estimate of $6.15 by $0.93. The company posted revenue of $2.57 billion in the quarter, versus $2.30 billion expected by analysts. Avis Budget Group achieved a net margin of 13.80% and a negative return on equity of 942.00%. The company’s revenue for the quarter increased by 89.6% compared to the same quarter last year. In the same quarter of the previous year, the company recorded EPS of ($0.36).
Several analysts have commented on CAR shares. Barclays lowered its price target on Avis Budget Group shares from $217.00 to $168.00 and set an “underweight” rating for the company in a Thursday, January 20 report. Morgan Stanley cut its price target on Avis Budget Group from $170.00 to $168.00 and set an “underweight” rating on the stock in a Wednesday, Feb. 16 research note. Zacks Investment Research downgraded Avis Budget Group from a “strong buy” rating to a “hold” rating and set a price target of $207.00 for the company. in a research report on Monday, January 17. JPMorgan Chase & Co. cut its price target on Avis Budget Group shares from $205.00 to $190.00 and set a “neutral” rating on the stock in a Wednesday, Feb. 16 research report . Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Avis Budget Group shares from $210.00 to $193.00 and set a “hold” rating for the company in a Wednesday 16 research report. February. Two investment analysts gave the stock a sell rating and four gave the company a hold rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $187.67.
In other news from the Avis Budget group, the director Lynn Krominga sold 5,823 shares of the company in a transaction dated Thursday, March 3. The shares were sold at an average price of $187.50, for a total transaction of $1,091,812.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. 27.40% of the shares are held by insiders.
Several institutional investors have recently bought and sold shares of CAR. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new equity stake in Avis Budget Group during Q4, valued at approximately $33,000. Selective Wealth Management Inc. acquired a new stake in Avis Budget Group in the third quarter worth approximately $35,000. AlphaCentric Advisors LLC acquired a new stake in Avis Budget Group in Q4 for a value of approximately $51,000. Covestor Ltd purchased a new stake in Avis Budget Group during Q4, valued at $68,000. Finally, CM Bidwell & Associates Ltd. bought a new position in shares of Avis Budget Group during the 3rd quarter for a value of $70,000.
NASDAQ CAR traded at $13.13 on Tuesday, reaching $175.43. The company’s shares had a trading volume of 1,080,839 shares, compared to an average volume of 989,570. The company has a market capitalization of $9.43 billion, a P/E ratio of 8.65, a PEG ratio of 0.40 and a beta of 2.10. Avis Budget Group has a 52-week minimum of $61.23 and a 52-week maximum of $545.11. The company’s 50-day simple moving average is $183.40 and its 200-day simple moving average is $182.89. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt ratio of 159.62.
About Avis Budget Group (Get a rating)
Avis Budget Group, Inc provides car sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company’s brands to third parties for vehicle rental and ancillary products and services in North America, South America, Central America and the Caribbean.
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