Wall Street analysts forecast that Avis Budget Group Inc. (NASDAQ:CAR) will post ($1.02) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Avis Budget Group’s earnings, with the lowest EPS estimate coming in at ($1.15) and the highest estimate coming in at ($0.82). Avis Budget Group posted earnings of ($0.74) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 37.8%. The business is scheduled to announce its next earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that Avis Budget Group will report full-year earnings of $3.89 per share for the current financial year, with EPS estimates ranging from $3.67 to $4.20. For the next fiscal year, analysts forecast that the business will report earnings of $4.37 per share, with EPS estimates ranging from $3.80 to $5.45. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Avis Budget Group.

Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Wednesday, February 20th. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.31 by $0.22. Avis Budget Group had a return on equity of 66.29% and a net margin of 1.81%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the business posted $0.45 earnings per share. Avis Budget Group’s revenue was up 1.5% compared to the same quarter last year.

CAR has been the subject of several analyst reports. Goldman Sachs Group raised Avis Budget Group from a “sell” rating to a “buy” rating and upped their target price for the company from $30.00 to $35.00 in a report on Monday, February 11th. Zacks Investment Research downgraded Avis Budget Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. BidaskClub downgraded Avis Budget Group from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank reaffirmed a “buy” rating and set a $48.00 target price on shares of Avis Budget Group in a report on Wednesday, March 6th. Finally, ValuEngine raised Avis Budget Group from a “strong sell” rating to a “sell” rating in a report on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Avis Budget Group currently has a consensus rating of “Hold” and a consensus price target of $39.50.

Shares of NASDAQ CAR opened at $34.72 on Tuesday. Avis Budget Group has a 12 month low of $21.63 and a 12 month high of $50.88. The firm has a market cap of $2.62 billion, a PE ratio of 9.51 and a beta of 1.95. The company has a debt-to-equity ratio of 33.24, a current ratio of 1.27 and a quick ratio of 1.27.

In other Avis Budget Group news, EVP Michael K. Tucker sold 4,796 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $35.50, for a total value of $170,258.00. Following the transaction, the executive vice president now directly owns 66,906 shares of the company’s stock, valued at approximately $2,375,163. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Srs Investment Management, Llc bought 4,189,300 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was purchased at an average cost of $35.33 per share, for a total transaction of $148,007,969.00. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of CAR. Lyrical Asset Management LP increased its holdings in shares of Avis Budget Group by 1.0% during the 3rd quarter. Lyrical Asset Management LP now owns 3,764,794 shares of the business services provider’s stock valued at $121,000,000 after acquiring an additional 35,872 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of Avis Budget Group by 15.1% during the 4th quarter. Pzena Investment Management LLC now owns 2,967,757 shares of the business services provider’s stock valued at $66,715,000 after acquiring an additional 389,731 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Avis Budget Group by 15.0% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,945,786 shares of the business services provider’s stock valued at $43,741,000 after acquiring an additional 254,367 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Avis Budget Group by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,648,885 shares of the business services provider’s stock valued at $37,072,000 after acquiring an additional 50,078 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in shares of Avis Budget Group during the 3rd quarter valued at about $26,760,000. 99.35% of the stock is currently owned by institutional investors.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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