May 24, 2022

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Brokerages Anticipate Avis Budget Group, Inc. (NASDAQ:CAR) to Post $3.42 EPS


Analysts expect that Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating) will announce $3.42 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Avis Budget Group’s earnings, with estimates ranging from $2.79 to $4.50. Avis Budget Group posted earnings per share of ($0.46) in the same quarter last year, which would suggest a positive year-over-year growth rate of 843.5%. The business is expected to report its next earnings results on Monday, May 2nd.

According to Zacks, analysts expect that Avis Budget Group will report full year earnings of $22.41 per share for the current fiscal year, with EPS estimates ranging from $19.18 to $25.39. For the next year, analysts forecast that the company will post earnings of $16.47 per share, with EPS estimates ranging from $13.54 to $21.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Avis Budget Group.

Avis Budget Group (NASDAQ:CAR – Get Rating) last issued its quarterly earnings data on Sunday, February 13th. The business services provider reported $7.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.15 by $0.93. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.30 billion. Avis Budget Group had a negative return on equity of 942.00% and a net margin of 13.80%. The firm’s revenue was up 89.6% compared to the same quarter last year. During the same period last year, the company earned ($0.36) earnings per share.

CAR has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Avis Budget Group from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 16th. Morgan Stanley lowered their target price on Avis Budget Group from $170.00 to $168.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 16th. Zacks Investment Research lowered Avis Budget Group from a “strong-buy” rating to a “hold” rating and set a $207.00 target price on the stock. in a research note on Monday, January 17th. Deutsche Bank Aktiengesellschaft lowered their target price on Avis Budget Group from $210.00 to $193.00 and set a “hold” rating on the stock in a research note on Wednesday, February 16th. Finally, Barclays lowered their target price on Avis Budget Group from $217.00 to $168.00 and set an “underweight” rating on the stock in a research note on Thursday, January 20th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $187.67.

In other news, Director Lynn Krominga sold 5,823 shares of the company’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $187.50, for a total value of $1,091,812.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp raised its position in shares of Avis Budget Group by 2.6% in the 4th quarter. Mackenzie Financial Corp now owns 2,823 shares of the business services provider’s stock worth $585,000 after acquiring an additional 72 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Avis Budget Group by 19.1% in the 4th quarter. Quadrant Capital Group LLC now owns 468 shares of the business services provider’s stock worth $97,000 after acquiring an additional 75 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Avis Budget Group during the 4th quarter valued at approximately $33,000. State Board of Administration of Florida Retirement System increased its position in Avis Budget Group by 0.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 20,545 shares of the business services provider’s stock valued at $2,394,000 after buying an additional 190 shares in the last quarter. Finally, Concord Wealth Partners increased its position in Avis Budget Group by 135.9% during the 4th quarter. Concord Wealth Partners now owns 394 shares of the business services provider’s stock valued at $82,000 after buying an additional 227 shares in the last quarter.

Shares of Avis Budget Group stock opened at $201.30 on Tuesday. The stock has a market capitalization of $10.82 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.40 and a beta of 2.10. The company has a debt-to-equity ratio of 159.62, a quick ratio of 0.77 and a current ratio of 0.77. Avis Budget Group has a 52 week low of $62.85 and a 52 week high of $545.11. The stock has a 50 day moving average price of $182.40 and a two-hundred day moving average price of $183.69.

About Avis Budget Group (Get Rating)

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean.

Further Reading

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

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