Wall Street analysts expect Hertz Global Holdings, Inc (NYSE:HTZ) to announce sales of $2.32 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Hertz Global’s earnings, with the lowest sales estimate coming in at $2.27 billion and the highest estimate coming in at $2.38 billion. Hertz Global reported sales of $2.22 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.5%. The company is expected to report its next quarterly earnings results on Tuesday, August 14th.
On average, analysts expect that Hertz Global will report full-year sales of $9.06 billion for the current financial year, with estimates ranging from $8.93 billion to $9.24 billion. For the next fiscal year, analysts anticipate that the company will report sales of $9.28 billion per share, with estimates ranging from $9.06 billion to $9.49 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Hertz Global.
Hertz Global (NYSE:HTZ) last issued its quarterly earnings data on Monday, May 7th. The transportation company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.32). The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Hertz Global had a negative return on equity of 12.06% and a net margin of 3.90%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.61) EPS.
HTZ has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Hertz Global from a “sell” rating to a “hold” rating and set a $20.00 price objective for the company in a research report on Wednesday, May 9th. ValuEngine downgraded shares of Hertz Global from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. Finally, Goldman Sachs reduced their price objective on shares of Hertz Global from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, February 15th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $15.71.
In other Hertz Global news, CFO Thomas C. Kennedy purchased 15,000 shares of Hertz Global stock in a transaction that occurred on Thursday, May 10th. The stock was purchased at an average price of $17.22 per share, for a total transaction of $258,300.00. Following the transaction, the chief financial officer now directly owns 55,376 shares in the company, valued at $953,574.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robin Kramer sold 5,450 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $19.67, for a total transaction of $107,201.50. Following the completion of the sale, the senior vice president now owns 5,459 shares of the company’s stock, valued at approximately $107,378.53. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in HTZ. Renaissance Technologies LLC raised its position in Hertz Global by 653.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,729,800 shares of the transportation company’s stock valued at $38,229,000 after purchasing an additional 1,500,100 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Hertz Global by 18.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,728,202 shares of the transportation company’s stock valued at $113,705,000 after purchasing an additional 884,967 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in Hertz Global in the 4th quarter valued at $11,614,000. Victory Capital Management Inc. raised its position in Hertz Global by 69.2% in the 4th quarter. Victory Capital Management Inc. now owns 726,794 shares of the transportation company’s stock valued at $16,062,000 after purchasing an additional 297,211 shares during the last quarter. Finally, Slate Path Capital LP raised its position in Hertz Global by 209.4% in the 4th quarter. Slate Path Capital LP now owns 430,000 shares of the transportation company’s stock valued at $9,503,000 after purchasing an additional 291,000 shares during the last quarter.
Shares of NYSE:HTZ opened at $16.21 on Wednesday. The company has a market cap of $1.52 billion, a PE ratio of -10.19 and a beta of 0.42. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 14.77. Hertz Global has a twelve month low of $8.52 and a twelve month high of $27.27.
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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