Zacks: Analysts Expect Avis Budget Group (CAR) Will Post Earnings of $0.57 Per Share

Equities analysts predict that Avis Budget Group (NASDAQ:CAR) will announce earnings of $0.57 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Avis Budget Group’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.43. Avis Budget Group posted earnings of $0.30 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 90%. The firm is expected to report its next quarterly earnings results on Monday, August 6th.

According to Zacks, analysts expect that Avis Budget Group will report full-year earnings of $3.60 per share for the current financial year, with EPS estimates ranging from $3.49 to $3.70. For the next year, analysts anticipate that the business will post earnings of $3.99 per share, with EPS estimates ranging from $3.88 to $4.15. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Avis Budget Group.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Wednesday, May 2nd. The business services provider reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.28. Avis Budget Group had a net margin of 4.24% and a return on equity of 66.71%. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the company posted ($0.94) EPS. Avis Budget Group’s revenue was up 7.0% on a year-over-year basis.



A number of research analysts recently issued reports on CAR shares. Zacks Investment Research raised shares of Avis Budget Group from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a research report on Monday, April 16th. ValuEngine raised shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 3rd. BidaskClub upgraded shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 16th. Northcoast Research lowered shares of Avis Budget Group from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research note on Wednesday, April 11th. They noted that the move was a valuation call. Finally, Barclays raised their price objective on shares of Avis Budget Group from $33.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, April 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $42.00.

In other news, Director Lynn Krominga sold 10,000 shares of Avis Budget Group stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the sale, the director now directly owns 305 shares in the company, valued at $12,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward P. Linnen sold 5,000 shares of Avis Budget Group stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $45.12, for a total transaction of $225,600.00. Following the completion of the sale, the executive vice president now owns 19,439 shares of the company’s stock, valued at $877,087.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,118 shares of company stock valued at $1,111,106. 2.80% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Avis Budget Group in the fourth quarter worth approximately $171,000. Summit Trail Advisors LLC grew its stake in shares of Avis Budget Group by 3,465.8% in the first quarter. Summit Trail Advisors LLC now owns 177,078 shares of the business services provider’s stock worth $177,000 after acquiring an additional 172,112 shares during the period. Delpha Capital Management LLC bought a new stake in shares of Avis Budget Group in the fourth quarter worth approximately $181,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Avis Budget Group by 43.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock worth $181,000 after acquiring an additional 1,242 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Avis Budget Group by 12,509.1% in the first quarter. Sei Investments Co. now owns 4,161 shares of the business services provider’s stock worth $195,000 after acquiring an additional 4,128 shares during the period.

NASDAQ CAR traded up $0.56 during trading hours on Friday, reaching $41.81. 2,021,911 shares of the company’s stock traded hands, compared to its average volume of 1,439,067. Avis Budget Group has a 52-week low of $22.72 and a 52-week high of $50.88. The stock has a market cap of $3.35 billion, a P/E ratio of 14.67 and a beta of 2.09. The company has a debt-to-equity ratio of 30.69, a current ratio of 1.18 and a quick ratio of 1.18.

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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