Avis Budget Group (NASDAQ:CAR) Posts Quarterly Earnings Results, Beats Estimates By $1.92 EPS
Avis Budget Group (NASDAQ:CAR) posted its quarterly earnings data on Sunday. The business services provider reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.38) by $1.92, MarketWatch Earnings reports. Avis Budget Group had a negative net margin of 7.28% and a negative return on equity of 199.17%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm posted ($1.40) EPS. The business’s revenue for the quarter was down 21.7% on a year-over-year basis.
Shares of Avis Budget Group stock traded down $5.28 during trading on Tuesday, reaching $83.73. The company’s stock had a trading volume of 69,697 shares, compared to its average volume of 1,504,278. The stock has a 50-day moving average price of $75.74 and a two-hundred day moving average price of $49.83. Avis Budget Group has a one year low of $9.44 and a one year high of $90.29. The stock has a market capitalization of $5.85 billion, a P/E ratio of -12.58 and a beta of 2.31.
Several research firms have recently weighed in on CAR. Bank of America restated a “neutral” rating on shares of Avis Budget Group in a research report on Monday, April 26th. Morgan Stanley reissued an “equal weight” rating and issued a $67.00 price target on shares of Avis Budget Group in a research report on Monday, March 22nd. JPMorgan Chase & Co. reduced their price target on shares of Avis Budget Group from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Avis Budget Group from $50.00 to $69.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Barclays lifted their price target on shares of Avis Budget Group from $42.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 21st. Six analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of $54.83.
Avis Budget Group Company Profile
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers. It operates the Avis brand, a vehicle rental system that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 515 dealer-operated and 410 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.
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