Avis Budget Group (CAR) to Release Quarterly Earnings on Monday

Avis Budget Group (NASDAQ:CAR) is set to issue its quarterly earnings data after the market closes on Monday, August 5th. Analysts expect the company to announce earnings of $2.93 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($3.21) EPS for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.56). The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.41 billion. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The firm’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.72 EPS. On average, analysts expect Avis Budget Group to post $12 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Avis Budget Group Trading Down 10.6 %

CAR stock opened at $84.44 on Friday. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 2.67 and a beta of 2.21. Avis Budget Group has a 12 month low of $84.36 and a 12 month high of $235.64. The firm has a 50-day moving average of $105.98 and a two-hundred day moving average of $117.74.

Analysts Set New Price Targets

CAR has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their price objective on shares of Avis Budget Group from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. StockNews.com cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. Susquehanna lowered their price objective on shares of Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Bank of America lowered their price objective on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Morgan Stanley decreased their price target on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $163.14.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.