Avis Budget Group (NASDAQ:CAR) is scheduled to issue its quarterly earnings data after the market closes on Monday, November 5th. Analysts expect the company to announce earnings of $3.52 per share for the quarter. Avis Budget Group has set its FY18 guidance at $3.00-3.85 EPS.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Tuesday, August 7th. The business services provider reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. Avis Budget Group had a net margin of 4.46% and a return on equity of 63.08%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the previous year, the company earned $0.30 earnings per share. On average, analysts expect Avis Budget Group to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of Avis Budget Group stock opened at $30.17 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 41.18. Avis Budget Group has a 1-year low of $26.97 and a 1-year high of $50.88. The firm has a market capitalization of $2.39 billion, a PE ratio of 10.59 and a beta of 1.86.
CAR has been the subject of a number of analyst reports. Northcoast Research upgraded shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday, July 30th. BidaskClub upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Deutsche Bank set a $45.00 target price on shares of Avis Budget Group and gave the company a “buy” rating in a research note on Thursday, October 25th. Barclays cut their target price on shares of Avis Budget Group from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 22nd. Finally, Zacks Investment Research cut shares of Avis Budget Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Avis Budget Group currently has an average rating of “Hold” and an average target price of $41.00.
In related news, Director Leonard S. Coleman, Jr. sold 13,000 shares of the company’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $34.63, for a total transaction of $450,190.00. Following the completion of the transaction, the director now directly owns 2,339 shares in the company, valued at approximately $80,999.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.
About Avis Budget Group
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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