Zacks: Analysts Expect Avis Budget Group Inc. (CAR) to Post -$1.09 EPS
Equities research analysts expect Avis Budget Group Inc. (NASDAQ:CAR) to announce earnings per share of ($1.09) for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Avis Budget Group’s earnings. Avis Budget Group posted earnings of ($0.94) per share in the same quarter last year, which indicates a negative year over year growth rate of 16%. The firm is scheduled to report its next earnings results on Wednesday, May 2nd.
On average, analysts expect that Avis Budget Group will report full year earnings of $3.17 per share for the current year, with EPS estimates ranging from $2.84 to $3.35. For the next year, analysts anticipate that the business will report earnings of $3.47 per share, with EPS estimates ranging from $2.72 to $3.95. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Avis Budget Group.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.25. Avis Budget Group had a return on equity of 76.64% and a net margin of 4.08%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis.
Shares of Avis Budget Group (CAR) traded up $1.22 during mid-day trading on Friday, reaching $45.54. The company’s stock had a trading volume of 1,760,370 shares, compared to its average volume of 2,640,000. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 22.33. Avis Budget Group has a one year low of $20.71 and a one year high of $49.41. The firm has a market cap of $3,790.00, a price-to-earnings ratio of 10.44 and a beta of 2.34.
In related news, major shareholder Srs Investment Management, Llc bought 3,500,000 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were bought at an average cost of $40.56 per share, with a total value of $141,960,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ronald L. Nelson sold 100,000 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $40.90, for a total value of $4,090,000.00. Following the sale, the insider now directly owns 360,714 shares in the company, valued at $14,753,202.60. The disclosure for this sale can be found here. Insiders sold a total of 423,750 shares of company stock worth $17,140,638 in the last three months. Company insiders own 2.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Avis Budget Group by 43.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock worth $181,000 after purchasing an additional 1,242 shares during the period. New York State Common Retirement Fund raised its position in shares of Avis Budget Group by 1.7% during the third quarter. New York State Common Retirement Fund now owns 90,399 shares of the business services provider’s stock worth $3,441,000 after purchasing an additional 1,494 shares during the period. First Republic Investment Management Inc. raised its position in shares of Avis Budget Group by 2.1% during the third quarter. First Republic Investment Management Inc. now owns 84,853 shares of the business services provider’s stock worth $3,229,000 after purchasing an additional 1,777 shares during the period. ING Groep NV raised its position in shares of Avis Budget Group by 21.4% during the fourth quarter. ING Groep NV now owns 10,812 shares of the business services provider’s stock worth $474,000 after purchasing an additional 1,904 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of Avis Budget Group by 6.5% during the second quarter. Voya Investment Management LLC now owns 33,638 shares of the business services provider’s stock worth $917,000 after purchasing an additional 2,067 shares during the period.
About Avis Budget Group
Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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