Avis Budget Group, Inc. Fiscal 2022 Earnings Estimate Released by Jefferies Financial Group (NASDAQ:CAR)
Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating) – Research analysts at Jefferies Financial Group have raised their earnings per share (EPS) estimates for fiscal 2022 for shares of Avis Budget Group in a report research handed out to clients and investors on Tuesday May 1, 3rd. Jefferies Financial Group analyst H. Mazari now expects the business services provider to post earnings of $30.29 per share for the year, up from its previous estimate of $19.18. Jefferies Financial Group also released estimates for Avis Budget Group earnings for fiscal year 2023 at $16.50 EPS and earnings for fiscal year 2024 at $17.74 EPS. Avis Budget Group (NASDAQ:CAR – Get Rating) last released its quarterly earnings data on Monday, May 2. The business services provider reported earnings per share (EPS) of $9.99 for the quarter, beating the consensus estimate of $3.45 by $6.54. Avis Budget Group achieved a net margin of 19.13% and a negative return on equity of 635.44%. In the same quarter of the previous year, the company posted EPS of ($0.46).
Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Avis Budget Group from a “hold” rating to a “strong-buy” rating and set a target price of $310.00 for the company in a Tuesday, April 19 research note. . Morgan Stanley cut its price target on Avis Budget Group shares from $170.00 to $168.00 and set an “underweight” rating for the company in a Wednesday, Feb. 16 research note. StockNews.com began covering Avis Budget Group shares in a research note on Thursday, March 31. They issued a “hold” rating for the company. Barclays downgraded shares of Avis Budget Group from an “underweight” rating to an “equal weight” rating and raised its price target for the company from $164.00 to $245.00 in a note. research on Wednesday, April 20. Finally, Bank of America downgraded shares of Avis Budget Group from a “neutral” rating to an “underperforming” rating and lowered its price target for the company from $250.00 to $240.00. in a research note from Wednesday, April 6. Two equity research analysts gave the stock a sell rating, four issued a hold rating and one gave the company a strong buy rating. According to MarketBeat, Avis Budget Group has a consensus rating of “Hold” and an average target price of $231.83.
Avis Budget Group shares opened at $261.35 on Friday. Avis Budget Group has a 1-year minimum of $65.87 and a 1-year maximum of $545.11. The company has a market capitalization of $13.48 billion, a P/E ratio of 8.44, a PEG ratio of 0.65 and a beta of 2.02. The company’s fifty-day moving average is $254.40 and its two-hundred-day moving average is $229.48.
Several large investors have recently changed their positions in the stock. State of Michigan Retirement System increased its stake in Avis Budget Group shares by 0.5% in the first quarter. State of Michigan Retirement System now owns 10,173 shares of the business services provider valued at $2,679,000 after purchasing 49 additional shares during the period. Prospera Financial Services Inc purchased a new stake in shares of Avis Budget Group during Q1 worth approximately $352,000. Victory Capital Management Inc. increased its equity stake in Avis Budget Group by 81.7% during the first quarter. Victory Capital Management Inc. now owns 11,444 shares of the business services provider valued at $3,063,000 after purchasing an additional 5,145 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Avis Budget Group during Q1 worth approximately $240,000. Finally, Precision Wealth Strategies LLC acquired a new stake in Avis Budget Group during Q1 worth approximately $295,000.
Separately, director Lynn Krominga sold 5,823 shares of the company in a trade that took place on Thursday, March 3. The shares were sold at an average price of $187.50, for a total value of $1,091,812.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 37.30% of the shares are currently held by insiders.
Avis Budget Group Company Profile (Get a rating)
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rental, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental company with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated locations and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car-sharing network.
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