Avis Budget Group Inc. Expected to Earn Q3 2018 Earnings of $3.54 Per Share (CAR)
Avis Budget Group Inc. (NASDAQ:CAR) – Northcoast Research lowered their Q3 2018 earnings per share (EPS) estimates for shares of Avis Budget Group in a research note issued on Thursday, August 9th. Northcoast Research analyst J. Healy now expects that the business services provider will post earnings per share of $3.54 for the quarter, down from their previous forecast of $3.55. Northcoast Research currently has a “Buy” rating and a $46.00 target price on the stock. Northcoast Research also issued estimates for Avis Budget Group’s Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $3.55 EPS and FY2019 earnings at $3.94 EPS.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Tuesday, August 7th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. Avis Budget Group had a net margin of 4.46% and a return on equity of 63.08%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the business posted $0.30 EPS.
Shares of CAR stock opened at $34.08 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 41.18. Avis Budget Group has a 12-month low of $30.67 and a 12-month high of $50.88. The company has a market cap of $2.67 billion, a PE ratio of 11.81 and a beta of 2.06.
In other Avis Budget Group news, Director Lynn Krominga sold 10,000 shares of the firm’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the transaction, the director now directly owns 305 shares of the company’s stock, valued at approximately $12,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael K. Tucker sold 7,218 shares of the firm’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $43.00, for a total transaction of $310,374.00. Following the completion of the transaction, the executive vice president now directly owns 64,354 shares of the company’s stock, valued at $2,767,222. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Cerebellum GP LLC bought a new position in Avis Budget Group in the 2nd quarter valued at $142,000. Summit Trail Advisors LLC boosted its holdings in Avis Budget Group by 3,465.8% in the 1st quarter. Summit Trail Advisors LLC now owns 177,078 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 172,112 shares during the period. Sei Investments Co. boosted its holdings in Avis Budget Group by 12,509.1% in the 1st quarter. Sei Investments Co. now owns 4,161 shares of the business services provider’s stock valued at $195,000 after purchasing an additional 4,128 shares during the period. Chicago Equity Partners LLC bought a new position in Avis Budget Group in the 1st quarter valued at $219,000. Finally, Cornerstone Wealth Management LLC bought a new position in Avis Budget Group in the 2nd quarter valued at $224,000.
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 5,450 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 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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