Avis Budget Group (NASDAQ:CAR) Updates FY19 Earnings Guidance

Avis Budget Group (NASDAQ:CAR) issued an update on its FY19 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.35-4.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.08. The company issued revenue guidance of $9.2-9.5 billion, compared to the consensus revenue estimate of $9.23 billion.

Shares of CAR traded down $1.63 during mid-day trading on Wednesday, hitting $32.06. 46,947 shares of the company’s stock were exchanged, compared to its average volume of 961,560. Avis Budget Group has a 52 week low of $21.63 and a 52 week high of $39.15. The stock has a 50-day moving average of $35.23. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 8.76 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.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, August 5th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Avis Budget Group had a net margin of 1.77% and a return on equity of 71.86%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. Sell-side analysts forecast that Avis Budget Group will post 4.05 earnings per share for the current year.

A number of research analysts recently issued reports on the stock. Northcoast Research reissued a buy rating on shares of Avis Budget Group in a research note on Tuesday. Zacks Investment Research cut shares of Avis Budget Group from a strong-buy rating to a hold rating in a research note on Tuesday, April 30th. TheStreet raised shares of Avis Budget Group from a c rating to a b- rating in a research note on Monday. ValuEngine cut shares of Avis Budget Group from a sell rating to a strong sell rating in a research note on Thursday, August 1st. Finally, BidaskClub raised shares of Avis Budget Group from a hold rating to a buy rating in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Avis Budget Group currently has a consensus rating of Hold and an average price target of $40.50.

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 5,500 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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