Zacks: Analysts Anticipate Avis Budget Group Inc. (CAR) to Announce $0.20 EPS

Wall Street brokerages expect Avis Budget Group Inc. (NASDAQ:CAR) to report $0.20 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Avis Budget Group’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.08. Avis Budget Group posted earnings of $0.15 per share during the same quarter last year, which suggests a positive year over year growth rate of 33.3%. The firm is expected to report its next quarterly earnings results on Wednesday, February 21st.

On average, analysts expect that Avis Budget Group will report full-year earnings of $2.65 per share for the current fiscal year, with EPS estimates ranging from $2.63 to $2.67. For the next fiscal year, analysts expect that the company will post earnings of $3.11 per share, with EPS estimates ranging from $2.84 to $3.31. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Avis Budget Group.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, November 6th. The business services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.11. Avis Budget Group had a net margin of 1.26% and a return on equity of 95.28%. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business posted $2.47 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis.

CAR has been the subject of a number of research analyst reports. TheStreet upgraded shares of Avis Budget Group from a “c” rating to a “b-” rating in a report on Friday, November 10th. ValuEngine upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Deutsche Bank reiterated a “buy” rating and set a $49.00 price objective (up previously from $44.00) on shares of Avis Budget Group in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Wednesday, October 18th. Finally, MKM Partners lifted their price objective on shares of Avis Budget Group from $36.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Avis Budget Group currently has an average rating of “Buy” and an average target price of $37.70.

In other news, CMO W Scott Deaver sold 40,000 shares of Avis Budget Group stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $39.05, for a total value of $1,562,000.00. Following the transaction, the chief marketing officer now owns 125,674 shares of the company’s stock, valued at approximately $4,907,569.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Shon Larry D. De sold 25,000 shares of Avis Budget Group stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $42.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief executive officer now directly owns 222,365 shares in the company, valued at approximately $9,339,330. The disclosure for this sale can be found here. In the last 90 days, insiders sold 489,581 shares of company stock valued at $19,782,022. Company insiders own 2.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. CNA Financial Corp purchased a new position in shares of Avis Budget Group in the 3rd quarter worth approximately $945,000. 1060 Capital LLC purchased a new position in shares of Avis Budget Group in the 3rd quarter worth approximately $25,874,000. Eqis Capital Management Inc. purchased a new position in shares of Avis Budget Group in the 3rd quarter worth approximately $380,000. Pacer Advisors Inc. grew its position in shares of Avis Budget Group by 85.8% in the 3rd quarter. Pacer Advisors Inc. now owns 17,209 shares of the business services provider’s stock worth $655,000 after buying an additional 7,948 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Avis Budget Group by 25.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 31,925 shares of the business services provider’s stock worth $871,000 after buying an additional 6,576 shares during the last quarter.

Shares of Avis Budget Group (CAR) traded up $2.43 on Friday, reaching $45.78. 2,243,795 shares of the company were exchanged, compared to its average volume of 2,700,000. Avis Budget Group has a one year low of $20.71 and a one year high of $49.41. The company has a market cap of $3,730.00, a price-to-earnings ratio of 33.91 and a beta of 2.53. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 35.24.

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About Avis Budget Group

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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