Wall Street brokerages expect Hertz Global Holdings, Inc (NYSE:HTZ) to announce $2.87 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Hertz Global’s earnings. Hertz Global posted sales of $2.76 billion in the same quarter last year, which suggests a positive year over year growth rate of 4%. The company is scheduled to report its next quarterly earnings report on Thursday, November 14th.
According to Zacks, analysts expect that Hertz Global will report full-year sales of $9.87 billion for the current fiscal year, with estimates ranging from $9.84 billion to $9.89 billion. For the next year, analysts forecast that the firm will report sales of $10.21 billion, with estimates ranging from $10.15 billion to $10.28 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Hertz Global.
Hertz Global (NYSE:HTZ) last issued its quarterly earnings data on Tuesday, August 6th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.52. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.47 billion. Hertz Global had a negative net margin of 0.71% and a positive return on equity of 10.92%. Hertz Global’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm posted ($0.19) EPS.
HTZ has been the subject of several recent research reports. ValuEngine cut Hertz Global from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Deutsche Bank set a $21.00 price objective on shares of Hertz Global and gave the company a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley set a $15.00 price objective on shares of Hertz Global and gave the company a “sell” rating in a report on Friday, August 9th. Zacks Investment Research raised shares of Hertz Global from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a report on Thursday, May 2nd. Finally, Barclays raised shares of Hertz Global from an “equal weight” rating to an “overweight” rating and set a $19.00 price objective on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ bought a new position in Hertz Global in the second quarter worth $29,000. Investors Research Corp acquired a new stake in Hertz Global in the first quarter valued at approximately $38,000. Exane Derivatives acquired a new stake in Hertz Global in the first quarter valued at approximately $51,000. C M Bidwell & Associates Ltd. acquired a new stake in Hertz Global in the second quarter valued at approximately $72,000. Finally, World Asset Management Inc bought a new position in shares of Hertz Global in the second quarter valued at approximately $182,000. Institutional investors own 70.27% of the company’s stock.
Shares of NYSE HTZ opened at $13.38 on Wednesday. The stock has a market capitalization of $2.06 billion, a PE ratio of -78.71 and a beta of 2.11. Hertz Global has a fifty-two week low of $13.01 and a fifty-two week high of $22.37. The company has a debt-to-equity ratio of 18.68, a quick ratio of 1.33 and a current ratio of 1.33. The company has a fifty day moving average of $15.34.
About Hertz Global
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc, operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 9,700 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand.
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