Avis Budget Group (NASDAQ:CAR) Releases Earnings Results, Beats Expectations By $0.27 EPS

Avis Budget Group (NASDAQ:CAR - Get Free Report) posted its earnings results on Tuesday. The business services provider reported ($0.23) earnings per share for the quarter, beating 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 Up 4.1 %

Shares of CAR traded up $3.56 during mid-day trading on Friday, hitting $90.75. The stock had a trading volume of 1,079,026 shares, compared to its average volume of 487,983. The company has a market cap of $3.19 billion, a PE ratio of 8.29 and a beta of 2.26. The company's fifty day simple moving average is $87.67 and its two-hundred day simple moving average is $88.08. Avis Budget Group has a fifty-two week low of $65.73 and a fifty-two week high of $132.25.

Wall Street Analyst Weigh In

CAR has been the topic of a number of analyst reports. Northcoast Research lowered Avis Budget Group from a "buy" rating to a "neutral" rating in a research note on Monday, November 18th. The Goldman Sachs Group raised their price target on Avis Budget Group from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut their price objective on Avis Budget Group from $145.00 to $143.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their target price on Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Finally, StockNews.com upgraded Avis Budget Group from a "sell" rating to a "hold" rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.