Avis Budget Group (NASDAQ:CAR) Posts Earnings Results, Beats Estimates By $1.92 EPS

Avis Budget Group (NASDAQ:CAR) posted its quarterly earnings data on Sunday. The business services provider reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.38) by $1.92, MarketWatch Earnings reports. Avis Budget Group had a negative net margin of 7.28% and a negative return on equity of 199.17%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company posted ($1.40) earnings per share. The firm’s quarterly revenue was down 21.7% compared to the same quarter last year.

Shares of CAR stock traded down $5.66 during trading hours on Tuesday, reaching $83.35. The stock had a trading volume of 2,624,907 shares, compared to its average volume of 1,517,783. The stock’s fifty day simple moving average is $75.74 and its 200 day simple moving average is $49.83. Avis Budget Group has a 12 month low of $9.44 and a 12 month high of $90.29. The firm has a market capitalization of $5.82 billion, a PE ratio of -12.58 and a beta of 2.31.

A number of analysts recently issued reports on the stock. Morgan Stanley restated an “equal weight” rating and set a $67.00 price objective on shares of Avis Budget Group in a report on Monday, March 22nd. Bank of America restated a “neutral” rating on shares of Avis Budget Group in a report on Monday, April 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Avis Budget Group from $50.00 to $69.00 and gave the stock a “hold” rating in a report on Tuesday. Barclays raised their price objective on shares of Avis Budget Group from $42.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Avis Budget Group from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 18th. Six investment analysts have rated the stock with a hold rating, Avis Budget Group has an average rating of “Hold” and an average target price of $54.83.

In other news, CFO Brian J. Choi acquired 10,000 shares of the business’s stock in a transaction dated Thursday, February 25th. The stock was bought at an average cost of $55.68 per share, for a total transaction of $556,800.00. Following the completion of the transaction, the chief financial officer now owns 28,200 shares of the company’s stock, valued at $1,570,176. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward P. Linnen sold 8,300 shares of the firm’s stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $62.49, for a total transaction of $518,667.00. Following the completion of the transaction, the executive vice president now owns 35,038 shares of the company’s stock, valued at $2,189,524.62. The disclosure for this sale can be found here. 23.20% of the stock is currently owned by company insiders.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers. It operates the Avis brand, a vehicle rental system that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 515 dealer-operated and 410 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 for Avis Budget Group (NASDAQ:CAR)

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