Avis Budget Group (CAR) set to announce results on Monday

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Avis Budget Group (NASDAQ:CAR – Get Rating) is expected to release quarterly results after market close on Monday, August 1. Analysts expect Avis Budget Group to post earnings of $12.13 per share for the quarter. Individuals wishing to register for the company’s earnings conference call can do so using this link.

Avis Budget Group (NASDAQ:CAR – Get Rating) last released its results on Monday, May 2. The business services provider reported earnings per share (EPS) of $9.99 for the quarter, beating analyst consensus estimates of $3.54 from $6.45. Avis Budget Group recorded a negative return on equity of 635.44% and a net margin of 19.13%. The company posted revenue of $2.43 billion for the quarter, versus $2.18 billion expected by analysts. In the same quarter last year, the company made earnings per share ($0.46). On average, analysts expect Avis Budget Group to post EPS of $39 for the current fiscal year and EPS of $19 for the next fiscal year.

Avis Budget Group price performance

NASDAQ:CAR opened at $156.32 on Monday. The stock has a market capitalization of $7.55 billion, a PE ratio of 4.82 and a beta of 2.11. Avis Budget Group has a fifty-two week minimum of $74.26 and a fifty-two week maximum of $545.11. The company’s 50-day simple moving average is $169.11 and its 200-day simple moving average is $204.26.

A Wall Street analyst gives his opinion

A number of analysts have weighed in on the company recently. Morgan Stanley cut its price target on Avis Budget Group from $156.00 to $140.00 and set an “underweight” rating for the company in a Thursday, July 14 research report. StockNews.com upgraded Avis Budget Group from a “buy” to a “hold” rating in a Thursday, July 14 research note. Barclays cut its price target on Avis Budget Group from $223.00 to $158.00 and set an “equal weight” rating on the stock in a Tuesday, July 5 report. Deutsche Bank Aktiengesellschaft lowered its price target on Avis Budget Group from $238.00 to $184.00 and set a “hold” rating on the stock in a Wednesday, July 13 report. Finally, Bank of America downgraded Avis Budget Group from a “neutral” rating to an “underperforming” rating and lowered its price target for the stock from $250.00 to $240.00 in a report from the Wednesday 6 April. Two research analysts have rated the stock with a sell rating and four have assigned the stock a hold rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $182.40.

Insiders place their bets

In other Avis Budget Group news, Chairman Bernardo Hees purchased 28,334 shares of the company in a transaction on Tuesday, May 24. The shares were acquired at an average price of $172.78 per share, for a total transaction of $4,895,548.52. Following the purchase, the president now owns 450,476 shares of the company, valued at approximately $77,833,243.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Last quarter, insiders acquired 83,734 shares of the company worth $14,792,435. Company insiders own 37.30% of the company’s shares.

Institutional entries and exits

Institutional investors have recently changed their positions in the company. Captrust Financial Advisors increased its stake in Avis Budget Group shares by 18.3% in the first quarter. Captrust Financial Advisors now owns 569 shares of the business services provider valued at $150,000 after acquiring 88 additional shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Avis Budget Group in Q1 worth approximately $223,000. Walleye Capital LLC bought a new position in shares of Avis Budget Group in Q1 worth approximately $226,000. HighTower Advisors LLC bought a new position in shares of Avis Budget Group in Q1 worth approximately $270,000. Finally, Utah Retirement Systems bought a new position in shares of Avis Budget Group in Q1 worth approximately $1,369,000.

Avis Budget Group Company Profile

(Get a rating)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rental, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental company with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated locations and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car-sharing network.

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Earnings History for Avis Budget Group (NASDAQ:CAR)

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