Analysts Anticipate Avis Budget Group, Inc. (NASDAQ:CAR) to Announce $11.33 EPS

Analysts expect that Avis Budget Group, Inc. (NASDAQ:CARGet Rating) will post earnings per share (EPS) of $11.33 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Avis Budget Group’s earnings. The lowest EPS estimate is $8.05 and the highest is $15.01. Avis Budget Group posted earnings per share of $5.90 during the same quarter last year, which would indicate a positive year-over-year growth rate of 92%. The company is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Avis Budget Group will report full-year earnings of $32.65 per share for the current year, with EPS estimates ranging from $23.50 to $49.06. For the next financial year, analysts expect that the business will post earnings of $19.38 per share, with EPS estimates ranging from $16.50 to $22.24. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Avis Budget Group.

Avis Budget Group (NASDAQ:CARGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The business services provider reported $9.99 earnings per share for the quarter, topping the consensus estimate of $3.45 by $6.54. Avis Budget Group had a negative return on equity of 635.44% and a net margin of 19.13%. During the same quarter in the previous year, the firm posted ($0.46) earnings per share.

Several equities analysts recently issued reports on CAR shares. StockNews.com started coverage on Avis Budget Group in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Barclays upgraded Avis Budget Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $164.00 to $245.00 in a research note on Wednesday, April 20th. Bank of America lowered Avis Budget Group from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $250.00 to $240.00 in a research note on Wednesday, April 6th. Morgan Stanley lowered their price target 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. Finally, JPMorgan Chase & Co. lowered their price target on Avis Budget Group from $205.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $231.83.

In other news, Director Lynn Krominga sold 5,823 shares of the company’s stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through this link. Corporate insiders own 37.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC boosted its holdings in shares of Avis Budget Group by 737.5% in the 1st quarter. Lindbrook Capital LLC now owns 134 shares of the business services provider’s stock worth $35,000 after acquiring an additional 118 shares in the last quarter. TCI Wealth Advisors Inc. lifted its holdings in Avis Budget Group by 79.5% during the 1st quarter. TCI Wealth Advisors Inc. now owns 158 shares of the business services provider’s stock worth $42,000 after buying an additional 70 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Avis Budget Group during the 4th quarter worth $33,000. First Quadrant LLC CA acquired a new position in Avis Budget Group during the 1st quarter worth $57,000. Finally, AlphaCentric Advisors LLC acquired a new position in Avis Budget Group during the 4th quarter worth $51,000.

Shares of NASDAQ CAR traded down $14.81 during trading hours on Monday, hitting $205.13. 1,605,628 shares of the company’s stock were exchanged, compared to its average volume of 1,005,137. Avis Budget Group has a 1-year low of $65.87 and a 1-year high of $545.11. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 0.35 and a beta of 2.02. The company’s 50-day moving average price is $260.16 and its 200-day moving average price is $231.96.

Avis Budget Group Company Profile (Get Rating)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.

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

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