Avis Budget Group (CAR) Releases FY 2019 Earnings Guidance

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Avis Budget Group (NASDAQ:CAR) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.35-4.20 for the period, compared to the Thomson Reuters consensus estimate of $3.79. The company issued revenue guidance of $9.2-9.5 billion, compared to the consensus revenue estimate of $9.32 billion.Avis Budget Group also updated its FY19 guidance to $3.35-4.20 EPS.

Shares of Avis Budget Group stock traded up $5.22 during trading hours on Thursday, hitting $34.63. The company’s stock had a trading volume of 19,799,700 shares, compared to its average volume of 1,383,170. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 27.75. The firm has a market cap of $2.27 billion, a PE ratio of 12.15 and a beta of 1.94. Avis Budget Group has a twelve month low of $21.63 and a twelve month high of $50.88.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings data on Wednesday, February 20th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.22. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. Avis Budget Group had a return on equity of 60.18% and a net margin of 4.09%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. As a group, equities analysts expect that Avis Budget Group will post 3.43 earnings per share for the current year.

A number of brokerages recently issued reports on CAR. Zacks Investment Research raised Avis Budget Group from a sell rating to a hold rating in a research report on Tuesday, February 12th. Deutsche Bank set a $45.00 target price on Avis Budget Group and gave the company a buy rating in a research report on Tuesday, November 6th. BidaskClub cut Avis Budget Group from a buy rating to a hold rating in a research report on Wednesday, December 12th. Finally, Goldman Sachs Group raised Avis Budget Group from a sell rating to a buy rating and upped their target price for the company from $30.00 to $35.00 in a research report on Monday, February 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $41.83.

In other Avis Budget Group news, SVP David T. Calabria sold 1,700 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $29.29, for a total transaction of $49,793.00. Following the completion of the sale, the senior vice president now directly owns 7,661 shares of the company’s stock, valued at approximately $224,390.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

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Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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