Analysts expect Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating) to report earnings per share of $11.33 for the current fiscal quarter, Zacks reports. Three analysts provided earnings estimates for Avis Budget Group, with estimates ranging from $8.05 to $15.01. Avis Budget Group reported earnings of $5.90 per share in the same quarter last year, which would indicate a positive growth rate of 92% year over year. The company is expected to release its next results on Monday, January 1.
On average, analysts expect Avis Budget Group to report annual earnings of $32.65 per share for the current year, with EPS estimates ranging from $23.50 to $49.06. For the next fiscal year, analysts expect the company to post earnings of $19.38 per share, with EPS estimates ranging from $16.50 to $22.24. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts who track Avis Budget Group.
Avis Budget Group (NASDAQ:CAR – Get Rating) last released its quarterly results on Monday, May 2. The business services provider reported earnings per share of $9.99 for the quarter, beating analyst consensus estimates of $3.45 from $6.54. Avis Budget Group recorded a negative return on equity of 635.44% and a net margin of 19.13%. In the same quarter a year earlier, the company posted ($0.46) earnings per share.
A number of equity analysts have weighed in on CAR shares recently. Bank of America downgraded Avis Budget Group from a “neutral” to an “underperforming” rating and lowered its price target for the stock from $250.00 to $240.00 in a Wednesday report April 6. Morgan Stanley lowered its price target on Avis Budget Group from $170.00 to $168.00 and set an “underweight” rating for the company in a Wednesday, Feb. 16 report. JPMorgan Chase & Co. lowered its price target on Avis Budget Group from $205.00 to $190.00 and set a “neutral” rating for the company in a Wednesday, February 16 report. Deutsche Bank Aktiengesellschaft raised its price target on Avis Budget Group from $193.00 to $238.00 in a Wednesday, May 4 report. Finally, StockNews.com took on coverage from Avis Budget Group in a Thursday, March 31 report. They set a “holding” rating for the company. Two analysts gave the stock a sell rating, four issued a hold rating and one issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $231.83.
Separately, director Lynn Krominga sold 5,823 Avis Budget Group shares in a transaction dated Thursday, March 3. The stock was sold at an average price of $187.50, for a total value of $1,091,812.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders of the company own 37.30% of the shares of the company.
Several institutional investors and hedge funds have recently changed their positions in the CAR. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stock position in Avis Budget Group in Q4, valued at around $33,000. Lindbrook Capital LLC increased its position in Avis Budget Group shares by 737.5% during the first quarter. Lindbrook Capital LLC now owns 134 shares of the business services provider worth $35,000 after acquiring 118 additional shares in the last quarter. TCI Wealth Advisors Inc. increased its position in Avis Budget Group shares by 79.5% during the first quarter. TCI Wealth Advisors Inc. now owns 158 shares of the business services provider worth $42,000 after acquiring 70 additional shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Avis Budget Group during Q4 worth approximately $51,000. Finally, First Quadrant LLC CA acquired a new equity stake in Avis Budget Group during Q1 valued at approximately $57,000.
NASDAQ CAR shares traded at $28.96 midday on Monday, hitting $226.90. 36,442 shares of the company have been traded, against an average volume of 1,043,279. The company has a market capitalization of $10.96 billion, a price-earnings ratio of 6.97, a PEG ratio of 0.40 and a beta of 2.02. Avis Budget Group has a 52-week minimum of $65.87 and a 52-week maximum of $545.11. The company’s 50-day moving average is $255.85 and its 200-day moving average is $231.09.
Avis Budget Group Company Profile (Get an assessment)
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rental, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental company with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated locations and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car-sharing network.
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