Avis Budget Group (CAR) to Release Quarterly Earnings on Wednesday

Avis Budget Group (NASDAQ:CAR) is scheduled to release its earnings data after the market closes on Wednesday, May 1st. Analysts expect Avis Budget Group to post earnings of ($2.65) per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Tuesday, February 13th. The business services provider reported $7.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $2.95. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm posted $10.46 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts expect Avis Budget Group to post $15 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Avis Budget Group Price Performance

CAR traded down $4.57 on Tuesday, hitting $98.99. The company had a trading volume of 80,632 shares, compared to its average volume of 816,013. Avis Budget Group has a 52-week low of $93.53 and a 52-week high of $244.95. The stock has a fifty day simple moving average of $111.49 and a 200-day simple moving average of $152.16. The firm has a market capitalization of $3.53 billion, a P/E ratio of 2.43 and a beta of 2.22.

Wall Street Analysts Forecast Growth

CAR has been the topic of a number of research reports. Northcoast Research upgraded shares of Avis Budget Group from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Monday, March 25th. Susquehanna cut their price objective on shares of Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, February 12th. The Goldman Sachs Group upgraded Avis Budget Group from a “sell” rating to a “neutral” rating and upped their price target for the stock from $118.00 to $130.00 in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $168.86.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.