Brokerages expect that Avis Budget Group Inc. (NASDAQ:CAR) will report ($1.09) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Avis Budget Group’s earnings. Avis Budget Group posted earnings of ($0.94) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 16%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Avis Budget Group will report full year earnings of $3.17 per share for the current financial year, with EPS estimates ranging from $2.84 to $3.35. For the next fiscal year, analysts forecast that the company will report earnings of $3.47 per share, with EPS estimates ranging from $2.72 to $3.95. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Avis Budget Group.
Avis Budget Group (NASDAQ:CAR) last issued its earnings results on Wednesday, February 21st. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Avis Budget Group had a net margin of 4.08% and a return on equity of 76.64%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share.
Shares of Avis Budget Group (NASDAQ CAR) traded up $0.08 during trading hours on Tuesday, reaching $48.37. 1,340,000 shares of the company’s stock were exchanged, compared to its average volume of 2,670,000. Avis Budget Group has a 12-month low of $20.71 and a 12-month high of $49.41. The company has a market capitalization of $3,920.00, a price-to-earnings ratio of 27.02 and a beta of 2.34. The company has a debt-to-equity ratio of 22.33, a current ratio of 1.26 and a quick ratio of 1.26.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FNY Managed Accounts LLC bought a new position in shares of Avis Budget Group in the third quarter worth approximately $160,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Avis Budget Group in the fourth quarter worth $171,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Avis Budget Group by 1,413.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,540 shares of the business services provider’s stock worth $172,000 after purchasing an additional 4,240 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Avis Budget Group by 43.2% in 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. Finally, Delpha Capital Management LLC acquired a new stake in Avis Budget Group in the fourth quarter worth $181,000.
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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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