Avis Budget Group (CAR) Releases FY 2018 Earnings Guidance

Avis Budget Group (NASDAQ:CAR) updated its FY 2018 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.30-3.70 for the period, compared to the Thomson Reuters consensus estimate of $3.55. The company issued revenue guidance of $9.1-9.2 billion, compared to the consensus revenue estimate of $9.15 billion.Avis Budget Group also updated its FY18 guidance to $3.30-3.70 EPS.

Several equities analysts recently commented on the stock. Goldman Sachs Group set a $30.00 price target on shares of Avis Budget Group and gave the company a sell rating in a research note on Tuesday, October 16th. Zacks Investment Research downgraded shares of Avis Budget Group from a strong-buy rating to a hold rating in a research note on Wednesday, August 1st. ValuEngine downgraded shares of Avis Budget Group from a sell rating to a strong sell rating in a research note on Friday, August 24th. BidaskClub downgraded shares of Avis Budget Group from a buy rating to a hold rating in a research note on Wednesday, August 29th. Finally, Deutsche Bank set a $45.00 price target on shares of Avis Budget Group and gave the company a buy rating in a research note on Thursday, October 25th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $41.00.

CAR opened at $31.05 on Tuesday. Avis Budget Group has a twelve month low of $26.97 and a twelve month high of $50.88. The company has a debt-to-equity ratio of 41.18, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $2.39 billion, a P/E ratio of 10.89 and a beta of 1.86.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Monday, November 5th. The business services provider reported $3.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.21). Avis Budget Group had a return on equity of 63.08% and a net margin of 4.46%. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the company earned $3.10 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts anticipate that Avis Budget Group will post 3.47 EPS for the current fiscal year.

In related news, Director Leonard S. Coleman, Jr. sold 13,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 2,339 shares of the company’s stock, valued at $80,999.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

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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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Earnings History and Estimates for Avis Budget Group (NASDAQ:CAR)

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