Avis Budget Group, Inc. (NASDAQ:CAR) to Release Quarterly Earnings on Monday
Avis Budget Group, Inc. (NASDAQ:CAR) is scheduled to be announcing its earnings results after the market closes on Monday, July 31st. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Avis Budget Group has set its FY17 guidance at $2.85-3.50 EPS.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Wednesday, May 3rd. The business services provider reported ($0.94) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.43. Avis Budget Group had a net margin of 1.24% and a return on equity of 74.55%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company earned ($0.28) EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts expect Avis Budget Group to post $2.95 EPS for the current fiscal year and $3.46 EPS for the next fiscal year.
Avis Budget Group, Inc. (CAR) opened at 32.36 on Monday. The stock has a 50 day moving average price of $25.84 and a 200 day moving average price of $30.18. Avis Budget Group, Inc. has a 52 week low of $20.71 and a 52 week high of $41.53. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 27.38 and a beta of 2.47.
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A number of equities research analysts have recently commented on CAR shares. Morgan Stanley lowered their price objective on Avis Budget Group from $23.00 to $19.00 and set an “underweight” rating for the company in a research report on Monday, May 8th. Credit Suisse Group lowered their price objective on Avis Budget Group from $38.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, May 15th. Raymond James Financial, Inc. raised Avis Budget Group from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Tuesday, May 9th. ValuEngine downgraded Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 23rd. Finally, BidaskClub raised Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $36.11.
In other Avis Budget Group news, Director John D. Jr. Hardy sold 992 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $27.20, for a total transaction of $26,982.40. Following the completion of the sale, the director now owns 992 shares of the company’s stock, valued at $26,982.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by insiders.
Avis Budget Group Company Profile
Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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