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

Avis Budget Group (NASDAQ:CAR) released its earnings results on Tuesday. The business services provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate 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 Stock Down 0.8 %

Shares of CAR traded down $0.72 during trading on Tuesday, reaching $89.71. 978,289 shares of the company traded hands, compared to its average volume of 540,207. Avis Budget Group has a twelve month low of $65.73 and a twelve month high of $171.43. The stock has a market cap of $3.15 billion, a PE ratio of 8.19 and a beta of 2.26. The stock has a 50-day simple moving average of $88.75 and a 200-day simple moving average of $88.37.

Analysts Set New Price Targets

Several research firms have recently commented on CAR. The Goldman Sachs Group upped their price objective on shares of Avis Budget Group from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Northcoast Research downgraded shares of Avis Budget Group from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. JPMorgan Chase & Co. dropped their price objective on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Avis Budget Group currently has a consensus rating of “Hold” and an average price target of $133.75.

Avis Budget Group Company Profile

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.