Avis Budget Group (NASDAQ:CAR) Posts Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Avis Budget Group (NASDAQ:CAR) issued its earnings results on Tuesday. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.27, Zacks reports. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%.

Avis Budget Group Stock Down 6.8 %

NASDAQ:CAR opened at $83.59 on Thursday. Avis Budget Group has a 52 week low of $65.73 and a 52 week high of $160.99. The stock’s fifty day moving average is $88.13 and its two-hundred day moving average is $88.23. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 7.63 and a beta of 2.26.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CAR shares. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Northcoast Research cut shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. reduced their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group upped their price objective on Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $133.75.

Avis Budget Group Company Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.