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

Avis Budget Group, Inc. (NASDAQ:CAR) released its quarterly earnings data on Monday, August 7th. The business services provider reported $0.30 earnings per share 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 company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’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 (CAR) traded down 2.51% on Friday, hitting $32.27. The stock had a trading volume of 2,391,337 shares. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 38.01 and a beta of 2.49. The company’s 50 day moving average is $31.46 and its 200-day moving average is $29.61. Avis Budget Group has a 1-year low of $20.71 and a 1-year high of $41.53.

In other Avis Budget Group news, Director John D. Jr. Hardy sold 908 shares of Avis Budget Group stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $32.78, for a total value of $29,764.24. Following the completion of the transaction, the director now directly owns 908 shares of the company’s stock, valued at $29,764.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is currently owned by insiders.

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Several equities research analysts have recently weighed in on the company. ValuEngine upgraded Avis Budget Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Morgan Stanley reduced their target price on Avis Budget Group from $23.00 to $19.00 and set an “underweight” rating on the stock in a report on Monday, May 8th. BidaskClub raised Avis Budget Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Deutsche Bank AG reissued a “buy” rating on shares of Avis Budget Group in a report on Monday, June 26th. Finally, MKM Partners reaffirmed a “buy” rating and set a $40.00 price objective on shares of Avis Budget Group in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $36.40.

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)

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