Avis Budget Group (CAR) Scheduled to Post Earnings on Wednesday

Avis Budget Group (NASDAQ:CAR) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($2.65) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Tuesday, February 13th. The business services provider reported $7.10 EPS for the quarter, beating the consensus estimate of $4.15 by $2.95. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.81 billion. Avis Budget Group had a net margin of 13.59% and a negative return on equity of 696.69%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.46 EPS. 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 during midday trading on Tuesday, hitting $98.99. 80,632 shares of the company’s stock traded hands, compared to its average volume of 816,013. The stock’s fifty day simple moving average is $111.49 and its 200-day simple moving average is $152.16. Avis Budget Group has a one year low of $93.53 and a one year high of $244.95. The company has a market cap of $3.53 billion, a PE ratio of 2.43 and a beta of 2.22.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Avis Budget Group from $190.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. JPMorgan Chase & Co. cut their price objective on shares of 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. Susquehanna decreased their target price on Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday. The Goldman Sachs Group raised Avis Budget Group from a “sell” rating to a “neutral” rating and upped their price target for the company from $118.00 to $130.00 in a report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Avis Budget Group presently has a consensus rating of “Moderate Buy” and a consensus target price 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.