Avis Budget Group (CAR) Set to Announce Earnings on Thursday

Avis Budget Group (NASDAQ:CAR - Get Free Report) is set to post its quarterly earnings results after the market closes on Thursday, October 31st. Analysts expect Avis Budget Group to post earnings of $8.79 per share for the quarter. Individual that are interested in registering for the company's earnings conference call can do so using this link.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $2.60 by ($2.19). Avis Budget Group had a negative return on equity of 230.71% and a net margin of 6.58%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the business earned $11.01 earnings per share. Avis Budget Group's revenue was down 2.4% compared to the same quarter last year. On average, analysts expect Avis Budget Group to post $8 EPS for the current fiscal year and $15 EPS for the next fiscal year.

Avis Budget Group Trading Up 3.7 %

NASDAQ:CAR traded up $3.08 during midday trading on Monday, hitting $85.44. 917,666 shares of the company were exchanged, compared to its average volume of 712,165. The company has a fifty day simple moving average of $82.15 and a 200 day simple moving average of $97.52. Avis Budget Group has a fifty-two week low of $65.73 and a fifty-two week high of $204.77. The company has a market capitalization of $3.05 billion, a PE ratio of 2.71 and a beta of 2.13.

Wall Street Analyst Weigh In

CAR has been the topic of a number of recent research reports. Susquehanna dropped their price objective on shares of Avis Budget Group from $120.00 to $95.00 and set a "neutral" rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on shares of Avis Budget Group from $205.00 to $175.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Avis Budget Group from $155.00 to $146.00 and set a "buy" rating on the stock in a report on Friday, August 30th. Barclays initiated coverage on shares of Avis Budget Group in a report on Thursday, September 19th. They issued an "equal weight" rating and a $105.00 target price on the stock. Finally, The Goldman Sachs Group lowered their target price on shares of Avis Budget Group from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $136.63.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.