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

Avis Budget Group (NASDAQ:CAR) released its 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 Stock Performance

Shares of NASDAQ CAR opened at $83.59 on Thursday. The stock’s 50-day simple moving average is $88.13 and its 200-day simple moving average is $88.23. The firm has a market capitalization of $2.94 billion, a PE ratio of 7.63 and a beta of 2.26. Avis Budget Group has a fifty-two week low of $65.73 and a fifty-two week high of $160.99.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAR. The Goldman Sachs Group upped their price objective on Avis Budget Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. StockNews.com upgraded Avis Budget Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Northcoast Research cut Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. lowered their price objective on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.