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, 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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