$3.08 Billion in Sales Expected for Avis Budget Group, Inc. (NASDAQ:CAR) This Quarter

Equities research analysts expect Avis Budget Group, Inc. (NASDAQ:CARGet Rating) to post $3.08 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Avis Budget Group’s earnings, with the highest sales estimate coming in at $3.25 billion and the lowest estimate coming in at $2.77 billion. Avis Budget Group reported sales of $2.37 billion during the same quarter last year, which indicates a positive year over year growth rate of 30%. The company is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Avis Budget Group will report full-year sales of $11.28 billion for the current year, with estimates ranging from $10.68 billion to $12.08 billion. For the next financial year, analysts forecast that the business will report sales of $11.11 billion, with estimates ranging from $10.89 billion to $11.41 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted ($0.46) earnings per share.

CAR has been the topic of several recent research reports. StockNews.com initiated coverage on Avis Budget Group in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Avis Budget Group from a “hold” rating to a “strong-buy” rating and set a $310.00 target price on the stock in a report on Tuesday, April 19th. Deutsche Bank Aktiengesellschaft lifted their target price on Avis Budget Group from $193.00 to $238.00 in a report on Wednesday, May 4th. Bank of America lowered Avis Budget Group from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $250.00 to $240.00 in a report on Wednesday, April 6th. Finally, JPMorgan Chase & Co. reduced 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 investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $231.83.

NASDAQ CAR opened at $226.98 on Wednesday. The stock has a fifty day moving average of $257.55 and a 200-day moving average of $231.47. The stock has a market capitalization of $10.96 billion, a P/E ratio of 7.00, a price-to-earnings-growth ratio of 0.40 and a beta of 2.02. Avis Budget Group has a 52 week low of $65.87 and a 52 week high of $545.11.

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 transaction of $1,091,812.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 37.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Avis Budget Group during the 4th quarter worth about $33,000. Lindbrook Capital LLC boosted its position in shares of Avis Budget Group by 737.5% during the 1st quarter. Lindbrook Capital LLC now owns 134 shares of the business services provider’s stock worth $35,000 after purchasing an additional 118 shares in the last quarter. TCI Wealth Advisors Inc. boosted its position in shares of Avis Budget Group by 79.5% during the 1st quarter. TCI Wealth Advisors Inc. now owns 158 shares of the business services provider’s stock worth $42,000 after purchasing an additional 70 shares in the last quarter. Aaron Wealth Advisors LLC bought a new position in shares of Avis Budget Group during the 1st quarter worth about $46,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Avis Budget Group during the 4th quarter worth about $51,000.

About Avis Budget Group (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.

Featured Articles

Get a free copy of the Zacks research report on Avis Budget Group (CAR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Avis Budget Group (NASDAQ:CAR)

Receive News & Ratings for Avis Budget Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group and related companies with MarketBeat.com's FREE daily email newsletter.