Wall Street brokerages forecast that Hertz Global Holdings, Inc (NYSE:HTZ) will post sales of $2.34 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Hertz Global’s earnings. The lowest sales estimate is $2.33 billion and the highest is $2.35 billion. Hertz Global reported sales of $2.29 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.2%. The firm is scheduled to announce its next quarterly earnings results on Monday, February 24th.
On average, analysts expect that Hertz Global will report full year sales of $9.81 billion for the current financial year, with estimates ranging from $9.78 billion to $9.82 billion. For the next financial year, analysts expect that the company will post sales of $10.12 billion, with estimates ranging from $10.04 billion to $10.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Hertz Global.
Hertz Global (NYSE:HTZ) last announced its earnings results on Monday, November 4th. The transportation company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.12. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.84 billion. Hertz Global had a positive return on equity of 12.04% and a negative net margin of 0.42%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.14 EPS.
A number of analysts recently issued reports on the stock. ValuEngine upgraded shares of Hertz Global from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Morgan Stanley set a $15.00 price objective on shares of Hertz Global and gave the stock a “sell” rating in a research report on Friday, August 9th. Barclays reiterated a “buy” rating and issued a $18.00 target price on shares of Hertz Global in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group started coverage on shares of Hertz Global in a research report on Wednesday, November 27th. They set a “hold” rating and a $17.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Hertz Global presently has a consensus rating of “Hold” and a consensus target price of $18.40.
Shares of NYSE:HTZ opened at $15.34 on Friday. The company has a market capitalization of $2.20 billion, a P/E ratio of -90.24 and a beta of 2.27. The company’s 50-day moving average is $15.11 and its 200 day moving average is $14.68. The company has a debt-to-equity ratio of 9.91, a quick ratio of 1.53 and a current ratio of 1.53. Hertz Global has a fifty-two week low of $11.24 and a fifty-two week high of $21.95.
Several institutional investors and hedge funds have recently modified their holdings of the business. Icahn Carl C lifted its position in shares of Hertz Global by 72.7% during the 3rd quarter. Icahn Carl C now owns 41,895,315 shares of the transportation company’s stock valued at $579,831,000 after buying an additional 17,631,446 shares during the last quarter. JS Capital Management LLC purchased a new stake in Hertz Global during the third quarter valued at about $433,000. Metropolitan Life Insurance Co NY lifted its holdings in Hertz Global by 69.7% during the third quarter. Metropolitan Life Insurance Co NY now owns 32,046 shares of the transportation company’s stock valued at $444,000 after purchasing an additional 13,167 shares during the last quarter. Man Group plc boosted its position in Hertz Global by 17.1% during the third quarter. Man Group plc now owns 20,311 shares of the transportation company’s stock worth $281,000 after purchasing an additional 2,966 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Hertz Global by 24.7% during the third quarter. Point72 Asset Management L.P. now owns 1,068,200 shares of the transportation company’s stock worth $14,784,000 after purchasing an additional 211,703 shares during the period.
About Hertz Global
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc, operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 9,700 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand.
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