Brokerages Expect Avis Budget Group, Inc. (NASDAQ:CAR) Will Announce Earnings of $11.33 Per Share

Analysts expect Avis Budget Group, Inc. (NASDAQ:CARGet Rating) to post earnings of $11.33 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Avis Budget Group’s earnings. The lowest EPS estimate is $8.05 and the highest is $15.01. Avis Budget Group reported earnings of $5.90 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 92%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Avis Budget Group will report full-year earnings of $32.65 per share for the current financial year, with EPS estimates ranging from $23.50 to $49.06. For the next financial year, analysts expect that the firm will post earnings of $19.38 per share, with EPS estimates ranging from $16.50 to $22.24. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Avis Budget Group.

Avis Budget Group (NASDAQ:CARGet Rating) last issued its earnings results on Monday, May 2nd. The business services provider reported $9.99 earnings per share for the quarter, topping the consensus estimate of $3.45 by $6.54. Avis Budget Group had a negative return on equity of 635.44% and a net margin of 19.13%. During the same quarter last year, the firm posted ($0.46) EPS.

CAR has been the topic of several research analyst reports. StockNews.com initiated coverage on Avis Budget Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Bank of America lowered Avis Budget Group from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $250.00 to $240.00 in a research report on Wednesday, April 6th. Barclays raised Avis Budget Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $164.00 to $245.00 in a research report on Wednesday, April 20th. Deutsche Bank Aktiengesellschaft lifted their price target on Avis Budget Group from $193.00 to $238.00 in a research report on Wednesday, May 4th. Finally, JPMorgan Chase & Co. dropped their target price on Avis Budget Group from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, February 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, Avis Budget Group has a consensus rating of “Hold” and an average target price of $231.83.

In other Avis Budget Group news, Director Lynn Krominga sold 5,823 shares of the company’s stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $187.50, for a total value of $1,091,812.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 37.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP boosted its stake in shares of Avis Budget Group by 13.2% during the first quarter. First Trust Advisors LP now owns 37,787 shares of the business services provider’s stock valued at $1,317,000 after acquiring an additional 4,400 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Avis Budget Group by 32.6% during the third quarter. Raymond James & Associates now owns 12,645 shares of the business services provider’s stock valued at $1,473,000 after acquiring an additional 3,112 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Avis Budget Group by 47.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 9,471 shares of the business services provider’s stock valued at $1,103,000 after acquiring an additional 3,058 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Avis Budget Group by 89.5% during the third quarter. Deutsche Bank AG now owns 96,333 shares of the business services provider’s stock valued at $11,225,000 after acquiring an additional 45,496 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its stake in shares of Avis Budget Group by 35.5% during the third quarter. Advisor Group Holdings Inc. now owns 27,315 shares of the business services provider’s stock valued at $3,182,000 after acquiring an additional 7,156 shares during the last quarter.

Shares of NASDAQ CAR traded down $28.96 during midday trading on Monday, hitting $226.90. 36,442 shares of the company’s stock were exchanged, compared to its average volume of 1,043,279. The company has a market cap of $10.96 billion, a PE ratio of 6.97, a P/E/G ratio of 0.40 and a beta of 2.02. Avis Budget Group has a twelve month low of $65.87 and a twelve month high of $545.11. The firm’s fifty day simple moving average is $255.85 and its 200-day simple moving average is $231.09.

Avis Budget Group Company Profile (Get Rating)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated 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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