Brokerages Expect Avis Budget Group Inc. (CAR) to Announce $0.20 Earnings Per Share

Equities research analysts predict that Avis Budget Group Inc. (NASDAQ:CAR) will post $0.20 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Avis Budget Group’s earnings. The lowest EPS estimate is $0.11 and the highest is $0.26. Avis Budget Group posted earnings per share of $0.15 in the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The business is expected to issue its next quarterly earnings report after the market closes 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 financial year, analysts anticipate that the company will report earnings of $3.02 per share, with EPS estimates ranging from $2.84 to $3.31. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Avis Budget Group.

A number of research firms recently issued reports on CAR. 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 lowered their target price on shares of Avis Budget Group from $49.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Northcoast Research restated a “buy” rating on shares of Avis Budget Group in a report on Tuesday, November 7th. Finally, Zacks Investment Research upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given 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 Avis Budget Group news, major shareholder Srs Investment Management, Llc acquired 3,500,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was bought at an average cost of $40.56 per share, for a total transaction of $141,960,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John D. Jr. Hardy sold 831 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $35.36, for a total transaction of $29,384.16. Following the sale, the director now owns 831 shares of the company’s stock, valued at $29,384.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 464,581 shares of company stock valued at $18,732,022. 2.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crow Point Partners LLC acquired a new position in shares of Avis Budget Group during the third quarter worth $107,000. FNY Managed Accounts LLC acquired a new position in shares of Avis Budget Group during the third quarter worth $160,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Avis Budget Group by 1,413.3% during 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Avis Budget Group by 43.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock worth $181,000 after purchasing an additional 1,242 shares in the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of Avis Budget Group during the third quarter worth $202,000.

Shares of Avis Budget Group (NASDAQ CAR) opened at $44.26 on Thursday. The company has a market cap of $3,600.00, a PE ratio of 32.79 and a beta of 2.45. Avis Budget Group has a twelve month low of $20.71 and a twelve month high of $49.41. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24.

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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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