Brokerages Expect Avis Budget Group Inc. (CAR) Will Announce Quarterly Sales of $1.96 Billion

Equities analysts forecast that Avis Budget Group Inc. (NASDAQ:CAR) will post $1.96 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Avis Budget Group’s earnings, with estimates ranging from $1.94 billion to $1.97 billion. Avis Budget Group reported sales of $1.88 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The firm is expected to issue its next quarterly earnings report on Wednesday, February 21st.

According to Zacks, analysts expect that Avis Budget Group will report full year sales of $1.96 billion for the current year. For the next fiscal year, analysts expect that the company will post sales of $9.07 billion per share, with estimates ranging from $9.04 billion to $9.10 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Avis Budget Group.

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

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Avis Budget Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 10th. ValuEngine raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Monday, December 11th. Barclays upped their price objective on shares of Avis Budget Group from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 1st. Deutsche Bank reissued a “buy” rating and set a $49.00 price target (up previously from $44.00) on shares of Avis Budget Group in a research report on Friday, October 6th. Finally, Northcoast Research reissued a “buy” rating on shares of Avis Budget Group in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Avis Budget Group currently has a consensus rating of “Buy” and an average price target of $37.70.

In related news, Director John D. Jr. Hardy sold 831 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $35.36, for a total value of $29,384.16. Following the transaction, the director now owns 831 shares of the company’s stock, valued at $29,384.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO W Scott Deaver sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $39.05, for a total transaction of $1,562,000.00. Following the sale, the chief marketing officer now owns 125,674 shares in the company, valued at approximately $4,907,569.70. The disclosure for this sale can be found here. Insiders have sold a total of 489,581 shares of company stock worth $19,782,022 over the last three months. 2.80% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CAR. Crow Point Partners LLC bought a new stake in Avis Budget Group in the third quarter worth $107,000. FNY Managed Accounts LLC bought a new stake in Avis Budget Group in the third quarter worth $160,000. Ladenburg Thalmann Financial Services Inc. increased its position in Avis Budget Group by 1,413.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,540 shares of the business services provider’s stock worth $172,000 after purchasing an additional 4,240 shares during the last quarter. V Wealth Management LLC bought a new stake in Avis Budget Group in the fourth quarter worth $227,000. Finally, Deprince Race & Zollo Inc. bought a new stake in Avis Budget Group in the third quarter worth $202,000.

Avis Budget Group (NASDAQ:CAR) opened at $45.68 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 35.24. Avis Budget Group has a 12 month low of $20.71 and a 12 month high of $49.41. The company has a market cap of $3,727.48, a P/E ratio of 33.84 and a beta of 2.53.

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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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