Avis Budget Group, Inc. (NASDAQ:CAR) Releases Earnings Results, Misses Expectations By $0.32 EPS

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.

TRADEMARK VIOLATION NOTICE: This article was first published by BNB Daily and is owned by of BNB Daily. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://www.baseball-news-blog.com/2017/08/19/avis-budget-group-inc-nasdaqcar-releases-quarterly-earnings-results-updated.html.

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.

Earnings History for Avis Budget Group (NASDAQ:CAR)

Receive News & Ratings for Avis Budget Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply