Avis Budget Group Inc. (NASDAQ:CAR) – Northcoast Research dropped their Q3 2019 earnings per share (EPS) estimates for shares of Avis Budget Group in a note issued to investors on Tuesday, August 6th, according to Zacks Investment Research. Northcoast Research analyst J. Healy now expects that the business services provider will post earnings per share of $3.52 for the quarter, down from their prior forecast of $3.58. Northcoast Research currently has a “Buy” rating on the stock. Northcoast Research also issued estimates for Avis Budget Group’s Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $4.02 EPS and FY2020 earnings at $4.18 EPS.
Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Monday, August 5th. The business services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.35 billion. Avis Budget Group had a net margin of 2.17% and a return on equity of 75.35%. Avis Budget Group’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share.
CAR has been the subject of several other reports. Zacks Investment Research lowered shares of Avis Budget Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine downgraded shares of Avis Budget Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Morgan Stanley set a $32.00 price objective on shares of Avis Budget Group and gave the company a “sell” rating in a report on Friday, August 9th. BidaskClub downgraded shares of Avis Budget Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, TheStreet raised Avis Budget Group from a “c” rating to a “b-” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Avis Budget Group currently has a consensus rating of “Hold” and a consensus price target of $38.80.
NASDAQ CAR opened at $26.20 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 46.72. The company has a fifty day moving average of $34.39 and a two-hundred day moving average of $33.31. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 7.18 and a beta of 2.08. Avis Budget Group has a 52 week low of $21.63 and a 52 week high of $37.27.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Voloridge Investment Management LLC acquired a new position in shares of Avis Budget Group in the second quarter valued at approximately $560,000. Nuveen Asset Management LLC acquired a new position in shares of Avis Budget Group in the second quarter valued at approximately $8,772,000. UBS Asset Management Americas Inc. increased its holdings in shares of Avis Budget Group by 1.4% in the second quarter. UBS Asset Management Americas Inc. now owns 128,700 shares of the business services provider’s stock valued at $4,525,000 after purchasing an additional 1,827 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Avis Budget Group by 30.8% in the second quarter. D. E. Shaw & Co. Inc. now owns 378,414 shares of the business services provider’s stock valued at $13,305,000 after purchasing an additional 89,214 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Avis Budget Group in the second quarter valued at approximately $1,248,000.
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 worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,500 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 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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