Avis Budget Group (NASDAQ:CAR) Issues Quarterly Earnings Results

Avis Budget Group (NASDAQ:CAR) issued its earnings results on Monday. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.06, RTT News reports. Avis Budget Group had a net margin of 1.77% and a return on equity of 71.86%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the business earned $0.57 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. Avis Budget Group updated its FY19 guidance to $3.35-4.20 EPS.

Shares of NASDAQ:CAR traded down $0.84 during trading on Monday, reaching $33.90. The stock had a trading volume of 1,630,971 shares, compared to its average volume of 1,393,420. Avis Budget Group has a one year low of $21.63 and a one year high of $39.15. The firm has a market cap of $2.57 billion, a P/E ratio of 9.29 and a beta of 2.08. The company has a debt-to-equity ratio of 51.70, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day moving average of $35.23.

CAR has been the topic of several recent research reports. BidaskClub upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating in a report on Friday, June 21st. Zacks Investment Research cut shares of Avis Budget Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, ValuEngine cut shares of Avis Budget Group from a “sell” rating to a “strong sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $40.50.

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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Earnings History for Avis Budget Group (NASDAQ:CAR)

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