$1.95 Billion in Sales Expected for Avis Budget Group Inc. (CAR) This Quarter
Equities analysts predict that Avis Budget Group Inc. (NASDAQ:CAR) will report $1.95 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Avis Budget Group’s earnings, with estimates ranging from $1.94 billion to $1.96 billion. Avis Budget Group posted sales of $1.84 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6%. The company is scheduled to announce its next earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Avis Budget Group will report full year sales of $1.95 billion for the current year, with estimates ranging from $9.21 billion to $9.38 billion. For the next financial year, analysts anticipate that the firm will report sales of $9.43 billion per share, with estimates ranging from $9.26 billion to $9.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Avis Budget Group.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.25. Avis Budget Group had a net margin of 4.08% and a return on equity of 76.64%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the business earned $0.15 EPS. Avis Budget Group’s revenue for the quarter was up 7.5% compared to the same quarter last year.
Shares of Avis Budget Group (NASDAQ CAR) opened at $48.49 on Thursday. Avis Budget Group has a one year low of $20.71 and a one year high of $49.41. The company has a debt-to-equity ratio of 22.33, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $3,930.00, a price-to-earnings ratio of 27.09 and a beta of 2.34.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Avis Budget Group by 43.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock valued at $181,000 after purchasing an additional 1,242 shares during the period. New York State Common Retirement Fund increased its stake in Avis Budget Group by 1.7% in the third quarter. New York State Common Retirement Fund now owns 90,399 shares of the business services provider’s stock valued at $3,441,000 after purchasing an additional 1,494 shares during the period. First Republic Investment Management Inc. increased its stake in Avis Budget Group by 2.1% in the third quarter. First Republic Investment Management Inc. now owns 84,853 shares of the business services provider’s stock valued at $3,229,000 after purchasing an additional 1,777 shares during the period. ING Groep NV increased its stake in Avis Budget Group by 21.4% in the fourth quarter. ING Groep NV now owns 10,812 shares of the business services provider’s stock valued at $474,000 after purchasing an additional 1,904 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Avis Budget Group by 2.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 110,864 shares of the business services provider’s stock valued at $4,865,000 after purchasing an additional 2,239 shares during the period.
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Avis Budget Group Company Profile
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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