$2.43 Billion in Sales Expected for Hertz Global Holdings, Inc (HTZ) This Quarter

Equities research analysts expect Hertz Global Holdings, Inc (NYSE:HTZ) to post sales of $2.43 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Hertz Global’s earnings. The lowest sales estimate is $2.41 billion and the highest is $2.45 billion. Hertz Global reported sales of $2.39 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.7%. The business is scheduled to report its next earnings report on Monday, August 5th.

On average, analysts expect that Hertz Global will report full-year sales of $9.76 billion for the current year, with estimates ranging from $9.67 billion to $9.89 billion. For the next financial year, analysts forecast that the company will post sales of $10.10 billion, with estimates ranging from $10.04 billion to $10.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Hertz Global.

Hertz Global (NYSE:HTZ) last posted its quarterly earnings results on Monday, May 6th. The transportation company reported ($0.99) earnings per share for the quarter, topping the consensus estimate of ($1.32) by $0.33. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.12 billion. Hertz Global had a negative net margin of 1.78% and a positive return on equity of 3.17%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.58) earnings per share.

Several analysts have weighed in on the stock. Northcoast Research raised shares of Hertz Global from a “neutral” rating to a “buy” rating in a research note on Monday, March 4th. Deutsche Bank upped their price objective on shares of Hertz Global from $18.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, February 27th. ValuEngine raised shares of Hertz Global from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Barclays raised shares of Hertz Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $14.00 to $18.00 in a research note on Friday, March 1st. Finally, Zacks Investment Research raised shares of Hertz Global from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.33.

In related news, major shareholder Carl C. Icahn sold 5,000,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $19.45, for a total transaction of $97,250,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in HTZ. Renaissance Technologies LLC increased its position in shares of Hertz Global by 48.0% during the first quarter. Renaissance Technologies LLC now owns 6,289,708 shares of the transportation company’s stock valued at $109,252,000 after buying an additional 2,041,160 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Hertz Global during the first quarter valued at about $14,132,000. Norges Bank purchased a new position in shares of Hertz Global during the fourth quarter valued at about $11,049,000. Marshall Wace LLP increased its position in shares of Hertz Global by 1,406.4% during the first quarter. Marshall Wace LLP now owns 811,503 shares of the transportation company’s stock valued at $14,095,000 after buying an additional 757,632 shares during the period. Finally, Morgan Stanley increased its position in shares of Hertz Global by 119.6% during the first quarter. Morgan Stanley now owns 678,692 shares of the transportation company’s stock valued at $11,789,000 after buying an additional 369,575 shares during the period.

Hertz Global stock traded down $0.75 during mid-day trading on Wednesday, hitting $16.35. The company’s stock had a trading volume of 2,260,772 shares, compared to its average volume of 2,454,982. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 18.68. The company has a market capitalization of $1.44 billion, a PE ratio of -96.18 and a beta of 1.95. Hertz Global has a 12 month low of $13.01 and a 12 month high of $22.37.

About Hertz Global

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc, operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 9,700 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand.

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