Avis Budget Group, Inc. (CAR) Scheduled to Post Quarterly Earnings on Tuesday
Avis Budget Group, Inc. (NASDAQ:CAR) is set to announce its earnings results after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of $2.99 per share for the quarter. Avis Budget Group has set its FY17 guidance at $2.40-2.85 EPS.
Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Monday, August 7th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.32). The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Avis Budget Group had a return on equity of 74.80% and a net margin of 0.86%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the business earned $0.63 earnings per share. On average, analysts expect Avis Budget Group to post $2.64 EPS for the current fiscal year and $3.33 EPS for the next fiscal year.
Avis Budget Group, Inc. (NASDAQ:CAR) opened at 41.11 on Tuesday. The stock has a 50 day moving average price of $38.58 and a 200-day moving average price of $30.98. Avis Budget Group, Inc. has a 1-year low of $20.71 and a 1-year high of $41.73. The stock has a market capitalization of $3.40 billion, a P/E ratio of 48.42 and a beta of 2.48.
A number of equities analysts have recently issued reports on CAR shares. Morgan Stanley reduced their price target on Avis Budget Group from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, August 25th. MKM Partners reaffirmed a “buy” rating and set a $40.00 price target on shares of Avis Budget Group in a research report on Wednesday, June 28th. BidaskClub raised Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Credit Suisse Group reaffirmed a “hold” rating on shares of Avis Budget Group in a research report on Thursday, September 14th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Avis Budget Group in a research report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $38.20.
In related news, insider Ronald L. Nelson sold 250,000 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $41.02, for a total value of $10,255,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP David T. Calabria sold 1,300 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $35.86, for a total value of $46,618.00. Following the completion of the transaction, the senior vice president now directly owns 5,662 shares in the company, valued at $203,039.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 435,708 shares of company stock worth $17,133,212. 2.80% of the stock is owned by insiders.
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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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