Brokerages expect that Avis Budget Group (NASDAQ:CAR) will announce ($1.07) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Avis Budget Group’s earnings, with the lowest EPS estimate coming in at ($1.09) and the highest estimate coming in at ($1.03). Avis Budget Group posted earnings per share of ($0.94) in the same quarter last year, which indicates a negative year over year growth rate of 13.8%. The firm is expected to report its next earnings results on Wednesday, May 2nd.
On average, analysts expect that Avis Budget Group will report full year earnings of $3.29 per share for the current year, with EPS estimates ranging from $3.21 to $3.35. For the next fiscal year, analysts forecast that the firm will report earnings of $3.73 per share, with EPS estimates ranging from $3.51 to $3.95. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Avis Budget Group.
Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, February 21st. The business services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.20 by $0.25. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. Avis Budget Group had a return on equity of 76.64% and a net margin of 4.08%. Avis Budget Group’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share.
Several equities analysts recently commented on CAR shares. Deutsche Bank increased their target price on Avis Budget Group from $48.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 23rd. BidaskClub lowered Avis Budget Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 15th. Zacks Investment Research raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Northcoast Research lowered Avis Budget Group from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Wednesday, April 11th. They noted that the move was a valuation call. Finally, Goldman Sachs lowered Avis Budget Group from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $40.12 to $33.00 in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $39.64.
Several institutional investors and hedge funds have recently made changes to their positions in CAR. Jefferies Group LLC acquired a new stake in shares of Avis Budget Group during the fourth quarter worth about $283,506,000. Pzena Investment Management LLC boosted its stake in shares of Avis Budget Group by 67.6% during the fourth quarter. Pzena Investment Management LLC now owns 1,660,313 shares of the business services provider’s stock worth $72,855,000 after buying an additional 669,678 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Avis Budget Group during the fourth quarter worth about $18,987,000. Allianz Asset Management GmbH boosted its stake in shares of Avis Budget Group by 129.6% during the fourth quarter. Allianz Asset Management GmbH now owns 593,500 shares of the business services provider’s stock worth $26,043,000 after buying an additional 335,000 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Avis Budget Group by 185.4% during the fourth quarter. Deutsche Bank AG now owns 400,967 shares of the business services provider’s stock worth $17,593,000 after buying an additional 260,491 shares during the period.
NASDAQ:CAR opened at $48.21 on Monday. The firm has a market capitalization of $3,865.36, a P/E ratio of 16.35 and a beta of 2.20. The company has a debt-to-equity ratio of 22.33, a quick ratio of 1.26 and a current ratio of 1.26. Avis Budget Group has a 12 month low of $20.71 and a 12 month high of $50.88.
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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 5,450 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 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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