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.

TRADEMARK VIOLATION NOTICE: This piece of content was originally published by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.com-unik.info/2017/08/19/avis-budget-group-inc-nasdaqcar-issues-quarterly-earnings-results-updated.html.

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)

What are top analysts saying about Avis Budget Group Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Avis Budget Group Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit