Avis Budget Group, Inc. (CAR) Releases Earnings Results, Misses Estimates By $0.32 EPS
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.
WARNING: This piece was first reported by Daily Political and is owned by of Daily Political. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.dailypolitical.com/2017/08/08/avis-budget-group-inc-car-releases-earnings-results-misses-estimates-by-0-32-eps.html.
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.
Receive News & Ratings for Avis Budget Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.