Avis Budget Group (NASDAQ:CAR) Announces Quarterly Earnings Results

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

Avis Budget Group Stock Down 0.8 %

NASDAQ CAR traded down $0.72 on Tuesday, reaching $89.71. 981,321 shares of the stock traded hands, compared to its average volume of 540,207. Avis Budget Group has a 12 month low of $65.73 and a 12 month high of $171.43. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 8.19 and a beta of 2.26. The firm’s fifty day simple moving average is $88.75 and its 200 day simple moving average is $88.37.

Wall Street Analysts Forecast Growth

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