Avis Budget Group, Inc. (NASDAQ:CAR) Issues FY17 Earnings Guidance
Avis Budget Group, Inc. (NASDAQ:CAR) updated its FY17 earnings guidance on Monday. The company provided EPS guidance of $2.40-2.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.82. The company issued revenue guidance of $8.80-8.95 billion, compared to the consensus revenue estimate of $8.77 billion.
Several research firms have recently commented on CAR. ValuEngine raised shares of Avis Budget Group from a hold rating to a buy rating in a research note on Thursday, July 6th. Morgan Stanley lowered their price objective on shares of Avis Budget Group from $23.00 to $19.00 and set an underweight rating for the company in a research note on Monday, May 8th. BidaskClub raised shares of Avis Budget Group from a hold rating to a buy rating in a research note on Wednesday, July 19th. Deutsche Bank AG reissued a buy rating on shares of Avis Budget Group in a research note on Monday, June 26th. Finally, MKM Partners reissued a buy rating and issued a $40.00 price objective on shares of Avis Budget Group in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Avis Budget Group currently has an average rating of Hold and a consensus target price of $36.40.
Avis Budget Group, Inc. (NASDAQ CAR) opened at 30.09 on Wednesday. The stock has a market cap of $2.53 billion, a P/E ratio of 25.46 and a beta of 2.49. The company has a 50-day moving average of $28.85 and a 200-day moving average of $29.92. Avis Budget Group, Inc. has a 52 week low of $20.71 and a 52 week high of $41.53. Avis Budget Group also saw some unusual options trading activity on Monday. Stock investors purchased 11,831 put options on the stock. This is an increase of approximately 706% compared to the typical volume of 1,468 put options.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Monday, August 7th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.32. Avis Budget Group had a net margin of 0.86% and a return on equity of 66.03%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the business earned $0.63 EPS. The firm’s revenue was down .2% compared to the same quarter last year. On average, analysts predict that Avis Budget Group, Inc. will post $2.74 EPS for the current fiscal year.
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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.
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