Avis Budget Group (NASDAQ:CAR) Releases Earnings Results, Misses Expectations By $2.19 EPS

Avis Budget Group (NASDAQ:CAR) announced its earnings results on Monday. The business services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $2.60 by ($2.19), Briefing.com reports. Avis Budget Group had a net margin of 10.05% and a negative return on equity of 480.48%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm posted $11.01 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis.

Avis Budget Group Trading Up 2.6 %

NASDAQ:CAR traded up $2.27 during mid-day trading on Wednesday, reaching $88.54. The company’s stock had a trading volume of 173,882 shares, compared to its average volume of 739,337. Avis Budget Group has a 12-month low of $79.03 and a 12-month high of $235.64. The firm’s fifty day moving average price is $104.92 and its two-hundred day moving average price is $116.34. The stock has a market cap of $3.16 billion, a P/E ratio of 2.72 and a beta of 2.21.

Analysts Set New Price Targets

CAR has been the topic of a number of research reports. Bank of America dropped their target price on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group dropped their price target on shares of Avis Budget Group from $140.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley dropped their price target 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Avis Budget Group has an average rating of “Moderate Buy” and a consensus price target of $163.14.

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.