Wall Street brokerages predict that Avis Budget Group Inc. (NASDAQ:CAR) will report earnings of $0.70 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Avis Budget Group’s earnings, with estimates ranging from $0.63 to $0.75. Avis Budget Group posted earnings of $0.57 per share in the same quarter last year, which suggests a positive year over year growth rate of 22.8%. The firm is expected to report its next quarterly earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Avis Budget Group will report full year earnings of $3.99 per share for the current financial year, with EPS estimates ranging from $3.85 to $4.20. For the next fiscal year, analysts expect that the business will report earnings of $4.40 per share, with EPS estimates ranging from $3.86 to $5.45. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Avis Budget Group.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, May 1st. The business services provider reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.24. Avis Budget Group had a net margin of 1.77% and a return on equity of 71.86%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the firm posted ($0.74) EPS. The firm’s revenue was down 2.4% on a year-over-year basis.

A number of equities research analysts have commented on the stock. BidaskClub raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Zacks Investment Research downgraded shares of Avis Budget Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine downgraded shares of Avis Budget Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $48.00 target price on shares of Avis Budget Group in a research report on Monday, February 25th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.67.

In other news, insider Mark J. Servodidio sold 38,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $37.07, for a total transaction of $1,408,660.00. Following the completion of the sale, the insider now owns 60,711 shares of the company’s stock, valued at approximately $2,250,556.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael K. Tucker sold 4,796 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $35.50, for a total transaction of $170,258.00. Following the sale, the executive vice president now directly owns 66,906 shares of the company’s stock, valued at approximately $2,375,163. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Several hedge funds have recently modified their holdings of CAR. Oregon Public Employees Retirement Fund grew its position in shares of Avis Budget Group by 1,992.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 589,650 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 561,467 shares during the period. Loeb Partners Corp bought a new stake in shares of Avis Budget Group during the 4th quarter valued at $32,000. Pearl River Capital LLC bought a new stake in shares of Avis Budget Group during the 4th quarter valued at $34,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Avis Budget Group by 434.6% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,390 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 1,130 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Avis Budget Group during the 4th quarter valued at $59,000.

NASDAQ:CAR opened at $31.56 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 51.70. Avis Budget Group has a 12 month low of $21.63 and a 12 month high of $44.94. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 8.65 and a beta of 1.93.

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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