Avis Budget Group (CAR) Scheduled to Post Quarterly Earnings on Wednesday

Avis Budget Group (NASDAQ:CAR) is set to announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($2.65) per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, beating analysts’ consensus estimates of $4.15 by $2.95. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.81 billion. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $10.46 earnings per share. On average, analysts expect Avis Budget Group to post $15 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Avis Budget Group Stock Performance

CAR stock opened at $100.75 on Monday. The stock has a market capitalization of $3.59 billion, a P/E ratio of 2.36 and a beta of 2.22. Avis Budget Group has a one year low of $93.53 and a one year high of $244.95. The company has a 50 day moving average price of $111.66 and a two-hundred day moving average price of $152.69.

Analyst Upgrades and Downgrades

Several analysts have commented on CAR shares. Susquehanna lowered their target price on shares of Avis Budget Group from $195.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. JPMorgan Chase & Co. decreased their price target on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Bank of America initiated coverage on shares of Avis Budget Group in a report on Tuesday, March 19th. They issued a “buy” rating and a $170.00 price target on the stock. Morgan Stanley decreased their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Finally, Northcoast Research upgraded shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Monday, March 25th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $172.86.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.