$0.73 Earnings Per Share Expected for Avis Budget Group Inc. (NASDAQ:CAR) This Quarter

Equities analysts expect Avis Budget Group Inc. (NASDAQ:CAR) to announce $0.73 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Avis Budget Group’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.63. Avis Budget Group reported earnings per share of $0.57 in the same quarter last year, which would indicate a positive year-over-year growth rate of 28.1%. The company is scheduled to issue its next quarterly earnings results after the market closes on Monday, August 5th.

According to Zacks, analysts expect that Avis Budget Group will report full-year earnings of $4.06 per share for the current fiscal year, with EPS estimates ranging from $3.85 to $4.45. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.45 per share, with EPS estimates ranging from $3.86 to $5.71. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Avis Budget Group.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.78) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.02) by $0.24. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.95 billion. Avis Budget Group had a return on equity of 71.86% and a net margin of 1.77%. Avis Budget Group’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.74) EPS.

A number of analysts have issued reports on CAR shares. ValuEngine downgraded Avis Budget Group from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research downgraded Avis Budget Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, BidaskClub raised Avis Budget Group from a “hold” rating to a “buy” rating in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $40.50.

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Hawaiian Bank increased its position in shares of Avis Budget Group by 1.9% during the first quarter. First Hawaiian Bank now owns 16,180 shares of the business services provider’s stock worth $564,000 after purchasing an additional 302 shares in the last quarter. World Asset Management Inc increased its position in shares of Avis Budget Group by 4.3% during the second quarter. World Asset Management Inc now owns 7,791 shares of the business services provider’s stock worth $274,000 after purchasing an additional 319 shares in the last quarter. Arizona State Retirement System increased its position in shares of Avis Budget Group by 1.3% during the second quarter. Arizona State Retirement System now owns 46,280 shares of the business services provider’s stock worth $1,627,000 after purchasing an additional 578 shares in the last quarter. Texas Permanent School Fund increased its position in shares of Avis Budget Group by 1.6% during the first quarter. Texas Permanent School Fund now owns 43,215 shares of the business services provider’s stock worth $1,506,000 after purchasing an additional 699 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Avis Budget Group by 6.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 16,902 shares of the business services provider’s stock worth $380,000 after purchasing an additional 1,006 shares in the last quarter.

NASDAQ CAR traded down $0.53 during trading on Friday, reaching $34.74. 1,377,829 shares of the company’s stock were exchanged, compared to its average volume of 834,245. The firm has a market cap of $2.76 billion, a PE ratio of 9.52 and a beta of 2.08. The company has a debt-to-equity ratio of 51.70, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50 day simple moving average of $35.16. Avis Budget Group has a 1 year low of $21.63 and a 1 year high of $39.15.

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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