Hertz Global Holdings, Inc to Post FY2017 Earnings of ($1.27) Per Share, Northcoast Research Forecasts (HTZ)
Hertz Global Holdings, Inc (NYSE:HTZ) – Equities researchers at Northcoast Research reduced their FY2017 earnings estimates for shares of Hertz Global Holdings in a research report issued on Monday. Northcoast Research analyst J. Healy now forecasts that the transportation company will earn ($1.27) per share for the year, down from their prior estimate of ($0.89). Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Hertz Global Holdings’ Q4 2017 earnings at ($0.48) EPS and FY2018 earnings at $0.24 EPS.
Hertz Global Holdings (NYSE:HTZ) last announced its quarterly earnings results on Thursday, November 9th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.09. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.58 billion. Hertz Global Holdings had a negative return on equity of 14.05% and a negative net margin of 8.35%. Hertz Global Holdings’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 earnings per share.
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Several other research analysts also recently weighed in on HTZ. BidaskClub downgraded Hertz Global Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Barclays PLC downgraded Hertz Global Holdings from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $17.34 to $9.00 in a research note on Monday, July 31st. J P Morgan Chase & Co initiated coverage on Hertz Global Holdings in a research note on Friday, August 4th. They set a “neutral” rating and a $15.00 target price for the company. Zacks Investment Research downgraded Hertz Global Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, Deutsche Bank AG set a $14.00 target price on Hertz Global Holdings and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $17.29.
Hertz Global Holdings (NYSE HTZ) opened at $17.20 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 18.38. Hertz Global Holdings has a 52 week low of $8.52 and a 52 week high of $27.43.
In related news, SVP Robin Kramer sold 3,524 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $21.53, for a total value of $75,871.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC raised its stake in Hertz Global Holdings by 1.2% in the 2nd quarter. Voya Investment Management LLC now owns 23,987 shares of the transportation company’s stock valued at $276,000 after purchasing an additional 282 shares during the last quarter. Suntrust Banks Inc. raised its stake in Hertz Global Holdings by 2.2% in the 2nd quarter. Suntrust Banks Inc. now owns 13,107 shares of the transportation company’s stock valued at $150,000 after purchasing an additional 285 shares during the last quarter. Hosking Partners LLP raised its stake in Hertz Global Holdings by 1.7% in the 2nd quarter. Hosking Partners LLP now owns 54,315 shares of the transportation company’s stock valued at $625,000 after purchasing an additional 932 shares during the last quarter. SG Americas Securities LLC raised its stake in Hertz Global Holdings by 0.9% in the 2nd quarter. SG Americas Securities LLC now owns 125,433 shares of the transportation company’s stock valued at $1,442,000 after purchasing an additional 1,144 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Hertz Global Holdings by 3.2% in the 3rd quarter. Rhumbline Advisers now owns 72,828 shares of the transportation company’s stock valued at $1,628,000 after purchasing an additional 2,282 shares during the last quarter.
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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