$3.67 Earnings Per Share Expected for Avis Budget Group Inc. (NASDAQ:CAR) This Quarter

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Analysts expect that Avis Budget Group Inc. (NASDAQ:CAR) will post $3.67 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Avis Budget Group’s earnings, with the highest EPS estimate coming in at $3.73 and the lowest estimate coming in at $3.52. Avis Budget Group posted earnings of $3.33 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 10.2%. The business is expected to issue its next quarterly earnings results on Monday, November 4th.

On average, analysts expect that Avis Budget Group will report full-year earnings of $4.05 per share for the current fiscal year, with EPS estimates ranging from $3.99 to $4.17. For the next fiscal year, analysts forecast that the business will report earnings of $4.30 per share, with EPS estimates ranging from $3.72 to $5.00. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Avis Budget Group.

Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings results on Monday, August 5th. The business services provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.06. Avis Budget Group had a net margin of 2.17% and a return on equity of 75.35%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the company posted $0.57 earnings per share. Avis Budget Group’s revenue was up .4% compared to the same quarter last year.

Several equities research analysts recently weighed in on CAR shares. BidaskClub raised shares of Avis Budget Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 12th. Morgan Stanley set a $32.00 price objective on shares of Avis Budget Group and gave the stock a “sell” rating in a research report on Friday, August 9th. Northcoast Research reaffirmed a “buy” rating on shares of Avis Budget Group in a research report on Tuesday, August 6th. TheStreet raised shares of Avis Budget Group from a “c” rating to a “b-” rating in a research report on Monday, August 5th. Finally, ValuEngine cut shares of Avis Budget Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Avis Budget Group currently has a consensus rating of “Hold” and a consensus price target of $39.00.

CAR opened at $29.50 on Tuesday. Avis Budget Group has a twelve month low of $21.63 and a twelve month high of $37.27. The company has a 50-day simple moving average of $28.54 and a 200 day simple moving average of $32.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 46.72. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 8.08 and a beta of 2.12.

Hedge funds have recently bought and sold shares of the company. Chicago Equity Partners LLC bought a new position in shares of Avis Budget Group in the second quarter worth about $615,000. Chesapeake Asset Management LLC bought a new position in shares of Avis Budget Group in the first quarter worth about $480,000. Strs Ohio lifted its holdings in shares of Avis Budget Group by 1,806.3% in the second quarter. Strs Ohio now owns 30,500 shares of the business services provider’s stock worth $1,072,000 after acquiring an additional 28,900 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Avis Budget Group by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 249,905 shares of the business services provider’s stock worth $8,706,000 after acquiring an additional 48,898 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of Avis Budget Group by 1.2% in the second quarter. Pzena Investment Management LLC now owns 2,901,389 shares of the business services provider’s stock worth $102,013,000 after acquiring an additional 34,494 shares during the last quarter. 99.77% of the stock is owned by hedge funds and other institutional investors.

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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