Avis Budget Group (CAR) Set to Announce Earnings on Wednesday

Avis Budget Group (NASDAQ:CAR) will be announcing its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($2.65) per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, beating the consensus estimate of $4.15 by $2.95. Avis Budget Group had a negative return on equity of 696.69% and a net margin of 13.59%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the business earned $10.46 EPS. The firm’s revenue was down .3% on a year-over-year basis. On average, analysts expect Avis Budget Group to post $15 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Avis Budget Group Stock Performance

CAR opened at $102.62 on Wednesday. Avis Budget Group has a 1 year low of $98.84 and a 1 year high of $244.95. The company’s 50 day simple moving average is $112.66 and its 200 day simple moving average is $154.39. The stock has a market capitalization of $3.66 billion, a PE ratio of 2.41 and a beta of 2.22.

Wall Street Analysts Forecast Growth

CAR has been the topic of a number of research analyst reports. Northcoast Research upgraded Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Monday, March 25th. Bank of America started coverage on Avis Budget Group in a research note on Tuesday, March 19th. They issued a “buy” rating and a $170.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Finally, Morgan Stanley dropped their price objective on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $172.86.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.