Avis Budget Group, Inc. (NASDAQ:CAR) released its quarterly earnings results on Monday. The business services provider reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.32, Bloomberg Earnings reports. Avis Budget Group had a net margin of 1.24% and a return on equity of 74.55%. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Avis Budget Group updated its FY17 guidance to $2.40-2.85 EPS.

Shares of Avis Budget Group (CAR) traded down 6.50% during trading on Tuesday, reaching $31.22. 7,679,001 shares of the company were exchanged. Avis Budget Group has a one year low of $20.71 and a one year high of $41.53. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 26.41 and a beta of 2.49. The company has a 50 day moving average price of $28.18 and a 200-day moving average price of $29.89. Avis Budget Group also saw some unusual options trading on Monday. Stock traders bought 11,831 put options on the stock. This is an increase of approximately 706% compared to the typical volume of 1,468 put options.

A number of research firms have recently commented on CAR. ValuEngine lowered shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Investment Research raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Credit Suisse Group dropped their price target on shares of Avis Budget Group from $38.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, May 5th. Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price target on shares of Avis Budget Group in a research report on Wednesday, June 14th. Finally, BidaskClub raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.40.

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About Avis Budget Group

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.

Earnings History for Avis Budget Group (NASDAQ:CAR)

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