Hertz Global Holdings, Inc (HTZ) Bonds Trading 0.8% Lower
An issue of Hertz Global Holdings, Inc (NYSE:HTZ) bonds fell 0.8% against their face value during trading on Monday. The high-yield issue of debt has a 7.625% coupon and will mature on June 1, 2022. The debt is now trading at $99.75 and was trading at $101.00 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.
Several research analysts have commented on the stock. Deutsche Bank AG reiterated a “hold” rating and set a $16.00 price target on shares of Hertz Global Holdings in a report on Tuesday, May 9th. BidaskClub cut shares of Hertz Global Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Hertz Global Holdings from a “sell” rating to a “hold” rating in a report on Monday, May 1st. ValuEngine cut shares of Hertz Global Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Finally, MKM Partners reiterated a “buy” rating and set a $22.00 price target on shares of Hertz Global Holdings in a report on Thursday, August 10th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Hertz Global Holdings has an average rating of “Hold” and an average price target of $16.57.
Shares of Hertz Global Holdings, Inc (HTZ) traded up 6.33% during mid-day trading on Monday, hitting $18.31. 8,662,839 shares of the stock traded hands. The stock’s market cap is $1.53 billion. Hertz Global Holdings, Inc has a one year low of $8.52 and a one year high of $52.08. The stock has a 50-day moving average of $16.15 and a 200 day moving average of $15.49.
Hertz Global Holdings (NYSE:HTZ) last announced its quarterly earnings results on Tuesday, August 8th. The transportation company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.51. Hertz Global Holdings had a negative net margin of 8.96% and a negative return on equity of 10.27%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the company earned $0.41 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. Equities analysts predict that Hertz Global Holdings, Inc will post ($1.63) EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. BlueCrest Capital Management Ltd acquired a new position in Hertz Global Holdings during the second quarter worth approximately $147,000. Suntrust Banks Inc. raised its position in Hertz Global Holdings by 2.2% in the second quarter. Suntrust Banks Inc. now owns 13,107 shares of the transportation company’s stock worth $150,000 after buying an additional 285 shares in the last quarter. Segantii Capital Management Ltd acquired a new position in Hertz Global Holdings during the first quarter worth approximately $167,000. Nisa Investment Advisors LLC acquired a new position in Hertz Global Holdings during the first quarter worth approximately $174,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Hertz Global Holdings by 146.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,940 shares of the transportation company’s stock worth $174,000 after buying an additional 5,900 shares in the last quarter.
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About Hertz Global Holdings
Herc Holdings Inc, formerly Hertz Global Holdings, Inc, is a holding company. The Company is engaged principally in the business of renting and leasing of cars through its Hertz, Dollar, Thrifty and Firefly brands, and equipment through its Hertz Equipment Rental brand. It operates through four segments: U.S.
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