Wall Street brokerages expect Avis Budget Group Inc. (NASDAQ:CAR) to report earnings per share (EPS) of ($1.09) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Avis Budget Group’s earnings. Avis Budget Group posted earnings of ($0.94) per share in the same quarter last year, which suggests a negative year over year growth rate of 16%. The business is scheduled to issue its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that Avis Budget Group will report full-year earnings of $3.17 per share for the current fiscal year, with EPS estimates ranging from $2.84 to $3.35. For the next financial year, analysts forecast that the firm will post earnings of $3.47 per share, with EPS estimates ranging from $2.72 to $3.95. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Avis Budget Group.
Avis Budget Group (NASDAQ:CAR) last announced its earnings results on Wednesday, February 21st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.25. Avis Budget Group had a net margin of 4.08% and a return on equity of 76.64%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the business earned $0.15 earnings per share. Avis Budget Group’s quarterly revenue was up 7.5% on a year-over-year basis.
In related news, CMO W Scott Deaver sold 40,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $39.05, for a total value of $1,562,000.00. Following the transaction, the chief marketing officer now directly owns 125,674 shares in the company, valued at $4,907,569.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ronald L. Nelson sold 275,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.22, for a total transaction of $11,060,500.00. Following the completion of the transaction, the chairman now owns 473,214 shares in the company, valued at $19,032,667.08. The disclosure for this sale can be found here. Insiders sold 463,750 shares of company stock worth $18,702,638 over the last 90 days. 2.80% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of CAR. Jefferies Group LLC bought a new stake in Avis Budget Group in the fourth quarter valued at approximately $283,506,000. Pzena Investment Management LLC bought a new stake in Avis Budget Group in the third quarter valued at approximately $37,704,000. 1060 Capital LLC bought a new stake in Avis Budget Group in the third quarter valued at approximately $25,874,000. State Street Corp increased its stake in Avis Budget Group by 21.6% in the second quarter. State Street Corp now owns 2,951,521 shares of the business services provider’s stock valued at $80,487,000 after purchasing an additional 524,807 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in Avis Budget Group in the fourth quarter valued at approximately $18,987,000.
Shares of Avis Budget Group (NASDAQ CAR) traded up $0.48 during mid-day trading on Friday, hitting $46.31. 4,731,300 shares of the stock were exchanged, compared to its average volume of 2,561,860. Avis Budget Group has a 12 month low of $20.71 and a 12 month high of $49.41. The firm has a market capitalization of $3,770.00, a price-to-earnings ratio of 10.62 and a beta of 2.45. The company has a debt-to-equity ratio of 22.33, a current ratio of 1.26 and a quick ratio of 1.26.
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Avis Budget Group Company Profile
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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