Equities research analysts forecast that Avis Budget Group Inc. (NASDAQ:CAR) will post $3.67 earnings per share for the current quarter, Zacks reports. Two analysts have provided estimates for Avis Budget Group’s earnings. The highest EPS estimate is $3.73 and the lowest is $3.52. Avis Budget Group reported earnings per share of $3.33 in the same quarter last year, which would suggest a positive year over year growth rate of 10.2%. The firm is scheduled to issue its next earnings report after the market closes on Thursday, October 31st.
On average, analysts expect that Avis Budget Group will report full year earnings of $4.05 per share for the current fiscal year, with EPS estimates ranging from $3.99 to $4.17. For the next year, analysts forecast that the firm will report earnings of $4.30 per share, with EPS estimates ranging from $3.72 to $5.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Avis Budget Group.
Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Monday, August 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.35 billion. Avis Budget Group had a return on equity of 75.35% and a net margin of 2.17%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 earnings per share.
CAR has been the topic of a number of research analyst reports. Morgan Stanley set a $32.00 target price on Avis Budget Group and gave the company a “sell” rating in a research note on Friday, August 9th. Northcoast Research reissued a “buy” rating on shares of Avis Budget Group in a research note on Tuesday, August 6th. TheStreet cut Avis Budget Group from a “b-” rating to a “c” rating in a research note on Monday, September 16th. ValuEngine raised Avis Budget Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub cut Avis Budget Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 5th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $39.00.
Several large investors have recently made changes to their positions in CAR. Geode Capital Management LLC grew its stake in shares of Avis Budget Group by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 749,363 shares of the business services provider’s stock valued at $16,845,000 after buying an additional 40,079 shares during the last quarter. NumerixS Investment Technologies Inc grew its stake in shares of Avis Budget Group by 135.6% during the first quarter. NumerixS Investment Technologies Inc now owns 11,800 shares of the business services provider’s stock valued at $404,000 after buying an additional 6,791 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of Avis Budget Group by 87.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 28,380 shares of the business services provider’s stock valued at $989,000 after buying an additional 13,215 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Avis Budget Group by 43.5% during the first quarter. Neuberger Berman Group LLC now owns 829,326 shares of the business services provider’s stock valued at $28,903,000 after buying an additional 251,314 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new position in shares of Avis Budget Group during the first quarter valued at about $579,000. 99.77% of the stock is currently owned by hedge funds and other institutional investors.
CAR traded up $1.73 during trading on Friday, reaching $28.44. The stock had a trading volume of 19,185 shares, compared to its average volume of 1,051,070. The stock has a market cap of $2.03 billion, a PE ratio of 7.80 and a beta of 2.08. The company has a debt-to-equity ratio of 46.72, a quick ratio of 0.86 and a current ratio of 0.86. Avis Budget Group has a one year low of $21.63 and a one year high of $37.27. The business has a 50-day moving average of $26.74 and a 200-day moving average of $31.86.
Avis Budget Group Company Profile
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 5,500 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 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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