Zacks: Analysts Anticipate Avis Budget Group Inc. (CAR) to Post $0.31 EPS

Equities analysts expect Avis Budget Group Inc. (NASDAQ:CAR) to report earnings per share of $0.31 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Avis Budget Group’s earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.38. Avis Budget Group posted earnings per share of $0.45 during the same quarter last year, which would indicate a negative year over year growth rate of 31.1%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, February 20th.

According to Zacks, analysts expect that Avis Budget Group will report full-year earnings of $3.44 per share for the current year, with EPS estimates ranging from $3.33 to $3.51. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.73 per share, with EPS estimates ranging from $3.52 to $3.88. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Avis Budget Group.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Deutsche Bank set a $45.00 target price on Avis Budget Group and gave the stock a “buy” rating in a report on Tuesday, November 6th. BidaskClub lowered Avis Budget Group from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. Finally, Goldman Sachs Group upgraded Avis Budget Group from a “sell” rating to a “buy” rating and upped their target price for the stock from $30.00 to $35.00 in a report on Monday, February 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $41.83.

Shares of CAR stock traded up $0.67 on Friday, hitting $28.69. 1,492,972 shares of the stock were exchanged, compared to its average volume of 1,424,637. The company has a debt-to-equity ratio of 27.75, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $2.22 billion, a P/E ratio of 10.07 and a beta of 1.94. Avis Budget Group has a fifty-two week low of $21.63 and a fifty-two week high of $50.88.

In other Avis Budget Group news, SVP David T. Calabria sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $29.29, for a total value of $49,793.00. Following the sale, the senior vice president now owns 7,661 shares in the company, valued at $224,390.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank acquired a new position in shares of Avis Budget Group in the fourth quarter valued at approximately $235,000. Millennium Management LLC grew its position in shares of Avis Budget Group by 353.5% in the fourth quarter. Millennium Management LLC now owns 540,938 shares of the business services provider’s stock valued at $12,160,000 after purchasing an additional 421,653 shares during the last quarter. Legal & General Group Plc grew its position in shares of Avis Budget Group by 1.4% in the fourth quarter. Legal & General Group Plc now owns 177,734 shares of the business services provider’s stock valued at $3,995,000 after purchasing an additional 2,426 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Avis Budget Group by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,902 shares of the business services provider’s stock valued at $380,000 after purchasing an additional 1,006 shares during the last quarter. Finally, Cipher Capital LP acquired a new position in shares of Avis Budget Group in the fourth quarter valued at approximately $300,000.

About Avis Budget Group

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 5,450 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 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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