Avis Budget Group (NASDAQ:CAR) Releases Quarterly Earnings Results, Misses Estimates By $0.56 EPS

Avis Budget Group (NASDAQ:CAR) posted its quarterly earnings data on Wednesday. The business services provider reported ($3.21) earnings per share for the quarter, missing the consensus estimate of ($2.65) by ($0.56), Briefing.com reports. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.41 billion. Avis Budget Group had a negative return on equity of 480.48% and a net margin of 10.05%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company earned $7.72 earnings per share.

Avis Budget Group Trading Up 1.6 %

Shares of NASDAQ:CAR opened at $115.60 on Friday. The stock has a market capitalization of $4.12 billion, a PE ratio of 3.65 and a beta of 2.28. The firm has a 50 day moving average of $111.63 and a 200-day moving average of $150.53. Avis Budget Group has a 12 month low of $93.53 and a 12 month high of $244.95.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAR. JPMorgan Chase & Co. reduced their price objective on Avis Budget Group from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Bank of America dropped their price objective on Avis Budget Group from $170.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday. Susquehanna decreased their target price on Avis Budget Group from $145.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Avis Budget Group from $202.00 to $183.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, StockNews.com cut shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.57.

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.