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

Avis Budget Group (NASDAQ:CAR) issued its quarterly earnings results on Tuesday. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.27, Zacks reports. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%.

Avis Budget Group Trading Down 0.8 %

CAR stock traded down $0.72 on Tuesday, hitting $89.71. The company’s stock had a trading volume of 978,289 shares, compared to its average volume of 540,207. The firm has a 50 day moving average of $88.75 and a two-hundred day moving average of $88.37. Avis Budget Group has a 1 year low of $65.73 and a 1 year high of $171.43. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 8.19 and a beta of 2.26.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. StockNews.com upgraded shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. The Goldman Sachs Group boosted their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $133.75.

About Avis Budget Group

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.