Avis Budget Group (NASDAQ:CAR) Announces Earnings Results, Beats Estimates By $0.27 EPS

Avis Budget Group (NASDAQ:CAR) announced its quarterly earnings data on Tuesday. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.27, Zacks reports. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%.

Avis Budget Group Trading Down 0.8 %

Shares of NASDAQ CAR opened at $89.71 on Wednesday. The company’s 50-day moving average price is $88.75 and its 200 day moving average price is $88.37. Avis Budget Group has a 52 week low of $65.73 and a 52 week high of $171.43. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 8.19 and a beta of 2.26.

Analyst Upgrades and Downgrades

CAR has been the subject of a number of recent analyst reports. Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their target price on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, The Goldman Sachs Group increased their price target on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $133.75.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.