Avis Budget Group (NASDAQ:CAR) Announces Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Avis Budget Group (NASDAQ:CAR) issued its quarterly earnings data on Tuesday. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.27, Zacks reports. Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%.

Avis Budget Group Stock Down 0.8 %

Shares of NASDAQ:CAR traded down $0.72 during midday trading on Tuesday, reaching $89.71. The company’s stock had a trading volume of 981,321 shares, compared to its average volume of 540,207. Avis Budget Group has a 1 year low of $65.73 and a 1 year high of $171.43. The business has a 50 day moving average price of $88.75 and a 200 day moving average price of $88.37. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 8.19 and a beta of 2.26.

Wall Street Analysts Forecast Growth

CAR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Northcoast Research cut Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. JPMorgan Chase & Co. cut their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group boosted their price target on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, StockNews.com raised Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $133.75.

Avis Budget Group Company Profile

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.