Avis Budget Group (NASDAQ:CAR) Posts Quarterly Earnings Results, Misses Expectations By $0.56 EPS

Avis Budget Group (NASDAQ:CAR) issued its earnings results on Wednesday. The business services provider reported ($3.21) EPS for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56), Briefing.com reports. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Avis Budget Group had a negative return on equity of 480.48% and a net margin of 10.05%. Avis Budget Group’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.72 EPS.

Avis Budget Group Trading Up 1.6 %

CAR stock opened at $115.60 on Friday. The firm’s 50-day moving average price is $111.63 and its two-hundred day moving average price is $150.53. Avis Budget Group has a 12-month low of $93.53 and a 12-month high of $244.95. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 3.65 and a beta of 2.28.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. StockNews.com cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Thursday. 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 research report on Monday, March 25th. The Goldman Sachs Group upgraded shares of Avis Budget Group from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $118.00 to $130.00 in a research report on Thursday, April 4th. Finally, Susquehanna decreased their price objective on shares of Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Avis Budget Group has an average rating of “Moderate Buy” and an average price target of $164.57.

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.