Equities research analysts expect Avis Budget Group Inc. (NASDAQ:CAR) to post ($1.09) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Avis Budget Group’s earnings. Avis Budget Group reported earnings per share of ($0.94) during the same quarter last year, which would suggest a negative year over year growth rate of 16%. The business is scheduled to announce its next earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Avis Budget Group will report full year earnings of $2.91 per share for the current year, with EPS estimates ranging from $2.80 to $3.06. For the next year, analysts anticipate that the company will report earnings of $3.24 per share, with EPS estimates ranging from $2.72 to $3.51. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Avis Budget Group.
Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Wednesday, February 21st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.25. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Avis Budget Group had a net margin of 4.08% and a return on equity of 105.22%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 earnings per share.
A number of research firms have weighed in on CAR. Barclays upped their price target on shares of Avis Budget Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 1st. BidaskClub lowered shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 3rd. ValuEngine lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Northcoast Research reiterated a “buy” rating on shares of Avis Budget Group in a research report on Tuesday, November 7th. Finally, Deutsche Bank dropped their price target on shares of Avis Budget Group from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.60.
In related news, Chairman Ronald L. Nelson sold 275,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $40.22, for a total transaction of $11,060,500.00. Following the sale, the chairman now owns 473,214 shares of the company’s stock, valued at $19,032,667.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP David T. Calabria sold 1,250 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $41.71, for a total transaction of $52,137.50. Following the sale, the senior vice president now directly owns 4,412 shares in the company, valued at approximately $184,024.52. The disclosure for this sale can be found here. Insiders sold 463,750 shares of company stock worth $18,702,638 in the last three months. Insiders own 2.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CAR. Jefferies Group LLC purchased a new stake in Avis Budget Group during the fourth quarter valued at $283,506,000. Pzena Investment Management LLC purchased a new stake in shares of Avis Budget Group in the third quarter valued at $37,704,000. 1060 Capital LLC purchased a new stake in shares of Avis Budget Group in the third quarter valued at $25,874,000. State Street Corp raised its stake in shares of Avis Budget Group by 21.6% in the second quarter. State Street Corp now owns 2,951,521 shares of the business services provider’s stock valued at $80,487,000 after acquiring an additional 524,807 shares during the period. Finally, Two Sigma Advisers LP purchased a new stake in shares of Avis Budget Group in the fourth quarter valued at $18,987,000.
Shares of Avis Budget Group (NASDAQ CAR) traded up $1.63 during midday trading on Friday, reaching $45.83. 5,010,344 shares of the company traded hands, compared to its average volume of 2,650,000. The company has a debt-to-equity ratio of 35.24, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $3,870.00, a price-to-earnings ratio of 25.60 and a beta of 2.45. Avis Budget Group has a 12 month low of $20.71 and a 12 month high of $49.41.
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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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