Avis Budget Group (NASDAQ:CAR) updated its FY18 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 $3.59. The company issued revenue guidance of $9.1-9.2 billion, compared to the consensus revenue estimate of $9.17 billion.Avis Budget Group also updated its FY 2018 guidance to $3.30-3.70 EPS.
A number of research analysts have recently weighed in on the stock. Deutsche Bank set a $45.00 target price on shares of Avis Budget Group and gave the company a buy rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Avis Budget Group from a hold rating to a sell rating in a report on Friday, October 26th. Goldman Sachs Group set a $30.00 price objective on shares of Avis Budget Group and gave the stock a sell rating in a report on Tuesday, October 16th. BidaskClub raised shares of Avis Budget Group from a hold rating to a buy rating in a report on Tuesday, October 9th. Finally, ValuEngine downgraded shares of Avis Budget Group from a sell rating to a strong sell rating in a report on Thursday, August 30th. Four analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $41.00.
CAR traded down $2.23 on Tuesday, hitting $28.83. The company’s stock had a trading volume of 2,667,050 shares, compared to its average volume of 1,643,186. The company has a market cap of $2.39 billion, a PE ratio of 10.11 and a beta of 1.86. Avis Budget Group has a 12 month low of $26.97 and a 12 month high of $50.88. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 41.18.
Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Monday, November 5th. The business services provider reported $3.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.21). The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.81 billion. Avis Budget Group had a return on equity of 63.08% and a net margin of 4.46%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $3.10 earnings per share. Research analysts forecast that Avis Budget Group will post 3.47 earnings per share for the current fiscal year.
In related news, Director Leonard S. Coleman, Jr. sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $34.63, for a total value of $450,190.00. Following the completion of the transaction, the director now directly owns 2,339 shares of the company’s stock, valued at approximately $80,999.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.
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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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