Avis Budget Group, Inc. (NASDAQ:CAR) Expected to Announce Earnings of $3.42 Per Share

Equities analysts expect that Avis Budget Group, Inc. (NASDAQ:CARGet Rating) will report earnings of $3.42 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Avis Budget Group’s earnings. The lowest EPS estimate is $2.79 and the highest is $4.50. Avis Budget Group posted earnings per share of ($0.46) during the same quarter last year, which would indicate a positive year over year growth rate of 843.5%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Avis Budget Group will report full-year earnings of $22.41 per share for the current financial year, with EPS estimates ranging from $19.18 to $25.39. For the next financial year, analysts expect that the company will report earnings of $16.47 per share, with EPS estimates ranging from $13.54 to $21.00. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Avis Budget Group.

Avis Budget Group (NASDAQ:CARGet Rating) last released its earnings results on Sunday, February 13th. The business services provider reported $7.08 EPS for the quarter, topping analysts’ consensus estimates of $6.15 by $0.93. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Avis Budget Group had a negative return on equity of 942.00% and a net margin of 13.80%. The company’s quarterly revenue was up 89.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.36) earnings per share.

A number of research firms have issued reports on CAR. Deutsche Bank Aktiengesellschaft reduced their price objective on Avis Budget Group from $210.00 to $193.00 and set a “hold” rating on the stock in a research note on Wednesday, February 16th. StockNews.com assumed coverage on shares of Avis Budget Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research lowered shares of Avis Budget Group from a “strong-buy” rating to a “hold” rating and set a $207.00 price objective for the company. in a report on Monday, January 17th. JPMorgan Chase & Co. decreased their price objective on shares of Avis Budget Group from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 16th. Finally, Morgan Stanley cut their target price on shares of Avis Budget Group from $170.00 to $168.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 16th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $187.67.

Shares of CAR stock traded down $7.03 during trading hours on Tuesday, reaching $276.71. 694,571 shares of the company traded hands, compared to its average volume of 1,052,103. The firm has a 50-day moving average price of $207.96 and a 200 day moving average price of $206.77. The company has a market cap of $14.88 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.60 and a beta of 2.16. Avis Budget Group has a 12-month low of $65.87 and a 12-month high of $545.11.

In related news, Director Lynn Krominga sold 5,823 shares of the business’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $187.50, for a total value of $1,091,812.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 27.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Avis Budget Group during the 4th quarter worth approximately $33,000. Selective Wealth Management Inc. purchased a new stake in shares of Avis Budget Group in the 3rd quarter valued at approximately $35,000. AlphaCentric Advisors LLC acquired a new stake in Avis Budget Group in the fourth quarter valued at $51,000. Covestor Ltd purchased a new stake in Avis Budget Group during the fourth quarter worth approximately $68,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Avis Budget Group during the third quarter worth approximately $70,000.

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

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Katherine T. Burrows

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