Avis Budget Group (NASDAQ:CAR) Releases Earnings Results, Beats Estimates By $6.54 EPS

Kristin

Avis Budget Group (NASDAQ:CARGet Rating) issued its quarterly earnings data on Monday. The business services provider reported $9.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.45 by $6.54, MarketWatch Earnings reports. Avis Budget Group had a net margin of 13.80% and a negative return on equity of 942.00%. During the same quarter in the previous year, the business posted ($0.46) earnings per share.

Shares of CAR opened at $280.56 on Tuesday. The firm has a market cap of $14.47 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.61 and a beta of 2.01. The company’s fifty day moving average is $247.34 and its two-hundred day moving average is $227.84. Avis Budget Group has a fifty-two week low of $65.87 and a fifty-two week high of $545.11.

In other Avis Budget Group news, Director Lynn Krominga sold 5,823 shares of Avis Budget Group stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $187.50, for a total value of $1,091,812.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 37.30% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the stock. LPL Financial LLC lifted its holdings in shares of Avis Budget Group by 95.7% during the 3rd quarter. LPL Financial LLC now owns 5,930 shares of the business services provider’s stock valued at $691,000 after acquiring an additional 2,900 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in shares of Avis Budget Group during the 4th quarter valued at $722,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Avis Budget Group by 101.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,064 shares of the business services provider’s stock valued at $635,000 after acquiring an additional 192,959 shares in the last quarter. JustInvest LLC acquired a new position in shares of Avis Budget Group during the 4th quarter valued at $615,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Avis Budget Group by 2.6% during the 4th quarter. Mackenzie Financial Corp now owns 2,823 shares of the business services provider’s stock valued at $585,000 after acquiring an additional 72 shares in the last quarter.

A number of research analysts have recently weighed in on CAR shares. StockNews.com started coverage on shares of Avis Budget Group in a research note on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley lowered their target price on shares of Avis Budget Group from $170.00 to $168.00 and set an “underweight” rating for the company in a research note on Wednesday, February 16th. Bank of America cut shares of Avis Budget Group from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $250.00 to $240.00 in a research note on Wednesday, April 6th. Barclays raised shares of Avis Budget Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $164.00 to $245.00 in a research note on Wednesday, April 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Avis Budget Group from $205.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Avis Budget Group currently has an average rating of “Hold” and a consensus price target of $224.33.

About Avis Budget Group (Get Rating)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated 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.

Featured Articles

Earnings History for Avis Budget Group (NASDAQ:CAR)



Receive News & Ratings for Avis Budget Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Avis Budget Group and related companies with MarketBeat.com’s FREE daily email newsletter.

Next Post

James Kannada Movie Download 720p | James Full Movie Download In Kannada | James Movie Download In Hindi

Information oi-Sruthi Hemachandran By Filmibeat Desk | Released: Saturday, March 19, 2022, 10:27 [IST] Prepared and directed by Chethan Kumar, James starring late Kannada actor Puneeth Rajkumar in the lead job has strike the cinemas throughout the globe. The movie was released on March 17 and guess what? It has […]

Subscribe US Now