$3.67 Earnings Per Share Expected for Avis Budget Group Inc. (NASDAQ:CAR) This Quarter

Equities research analysts forecast that Avis Budget Group Inc. (NASDAQ:CAR) will report earnings per share (EPS) of $3.67 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Avis Budget Group’s earnings. The lowest EPS estimate is $3.52 and the highest is $3.73. Avis Budget Group posted earnings per share of $3.33 during the same quarter last year, which suggests a positive year over year growth rate of 10.2%. The company is scheduled to announce its next earnings report on Monday, November 4th.

On average, analysts expect that Avis Budget Group will report full-year earnings of $4.05 per share for the current fiscal year, with EPS estimates ranging from $3.99 to $4.17. For the next financial year, analysts forecast that the company will report earnings of $4.30 per share, with EPS estimates ranging from $3.72 to $5.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Avis Budget Group.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Monday, August 5th. The business services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.35 billion. Avis Budget Group had a return on equity of 75.35% and a net margin of 2.17%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share.

CAR has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Avis Budget Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 30th. TheStreet upgraded Avis Budget Group from a “c” rating to a “b-” rating in a research report on Monday, August 5th. Northcoast Research restated a “buy” rating on shares of Avis Budget Group in a research report on Tuesday, August 6th. BidaskClub downgraded Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, ValuEngine downgraded Avis Budget Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $39.00.

Several large investors have recently made changes to their positions in CAR. Chesapeake Asset Management LLC acquired a new position in shares of Avis Budget Group in the first quarter worth $480,000. Norges Bank bought a new position in shares of Avis Budget Group during the fourth quarter worth $13,058,000. Strs Ohio boosted its position in shares of Avis Budget Group by 1,806.3% during the second quarter. Strs Ohio now owns 30,500 shares of the business services provider’s stock worth $1,072,000 after purchasing an additional 28,900 shares in the last quarter. Pzena Investment Management LLC lifted its position in Avis Budget Group by 1.2% in the 2nd quarter. Pzena Investment Management LLC now owns 2,901,389 shares of the business services provider’s stock valued at $102,013,000 after acquiring an additional 34,494 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its position in Avis Budget Group by 9.3% in the 1st quarter. Commonwealth Bank of Australia now owns 282,538 shares of the business services provider’s stock valued at $9,843,000 after acquiring an additional 24,035 shares in the last quarter.

CAR opened at $24.69 on Monday. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 6.76 and a beta of 2.08. The company has a debt-to-equity ratio of 46.72, a current ratio of 0.86 and a quick ratio of 0.86. Avis Budget Group has a 1-year low of $21.63 and a 1-year high of $37.27. The business has a 50 day moving average price of $32.97 and a two-hundred day moving average price of $33.15.

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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