Avis Budget Group, Inc. (NASDAQ:CAR) issued its quarterly earnings data on Monday, August 7th. The business services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.62 by $0.32, Bloomberg Earnings reports. Avis Budget Group had a net margin of 0.86% and a return on equity of 74.80%. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. Avis Budget Group updated its FY17 guidance to $2.40-2.85 EPS.
Avis Budget Group (NASDAQ:CAR) traded down 2.51% during midday trading on Friday, hitting $32.27. The stock had a trading volume of 2,391,337 shares. Avis Budget Group has a 12 month low of $20.71 and a 12 month high of $41.53. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 38.01 and a beta of 2.49. The stock has a 50 day moving average of $31.46 and a 200 day moving average of $29.61.
Several equities analysts recently issued reports on CAR shares. ValuEngine downgraded Avis Budget Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. J P Morgan Chase & Co initiated coverage on Avis Budget Group in a research report on Friday, August 4th. They issued an “overweight” rating and a $39.00 target price on the stock. Credit Suisse Group cut their price target on Avis Budget Group from $38.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, May 5th. Finally, Raymond James Financial, Inc. raised Avis Budget Group from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $36.40.
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In other news, Director John D. Jr. Hardy sold 908 shares of Avis Budget Group stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $32.78, for a total value of $29,764.24. Following the transaction, the director now directly owns 908 shares of the company’s stock, valued at $29,764.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.
About Avis Budget Group
Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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