Analysts expect that Avis Budget Group, Inc. (NASDAQ:CAR) will post $1.15 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Avis Budget Group’s earnings, with the lowest EPS estimate coming in at $0.79 and the highest estimate coming in at $1.50. Avis Budget Group posted earnings of ($5.60) per share during the same quarter last year, which would indicate a positive year over year growth rate of 120.5%. The company is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, August 3rd.
According to Zacks, analysts expect that Avis Budget Group will report full year earnings of $4.34 per share for the current year, with EPS estimates ranging from $3.86 to $4.98. For the next year, analysts anticipate that the company will post earnings of $5.32 per share, with EPS estimates ranging from $4.70 to $5.94. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Avis Budget Group.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Sunday, May 2nd. The business services provider reported ($0.46) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.38) by $1.92. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the business posted ($1.40) earnings per share. The firm’s quarterly revenue was down 21.7% compared to the same quarter last year.
Shares of NASDAQ:CAR traded up $0.92 on Thursday, reaching $78.09. 30,750 shares of the company traded hands, compared to its average volume of 1,358,589. The business has a 50-day simple moving average of $81.88. Avis Budget Group has a 52 week low of $24.44 and a 52 week high of $95.10.
In other Avis Budget Group news, Director Lynn Krominga sold 5,760 shares of the firm’s stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $83.50, for a total value of $480,960.00. Following the completion of the sale, the director now directly owns 8,623 shares in the company, valued at $720,020.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bernardo Hees bought 63,000 shares of the stock in a transaction dated Wednesday, May 12th. The shares were acquired at an average price of $79.39 per share, with a total value of $5,001,570.00. The disclosure for this purchase can be found here. Company insiders own 27.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CAR. Canada Pension Plan Investment Board lifted its holdings in shares of Avis Budget Group by 335.1% during the first quarter. Canada Pension Plan Investment Board now owns 1,941,500 shares of the business services provider’s stock valued at $140,837,000 after purchasing an additional 1,495,300 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Avis Budget Group by 372.5% during the first quarter. UBS Asset Management Americas Inc. now owns 1,036,115 shares of the business services provider’s stock valued at $75,160,000 after acquiring an additional 816,853 shares in the last quarter. Norges Bank bought a new stake in shares of Avis Budget Group during the fourth quarter valued at approximately $25,728,000. Morgan Stanley increased its position in shares of Avis Budget Group by 136.4% during the first quarter. Morgan Stanley now owns 1,119,983 shares of the business services provider’s stock valued at $81,244,000 after acquiring an additional 646,253 shares in the last quarter. Finally, SummerHaven Investment Management LLC bought a new stake in shares of Avis Budget Group during the fourth quarter valued at approximately $548,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.
About Avis Budget Group
Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company’s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean.
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