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

Avis Budget Group (NASDAQ:CAR) posted its quarterly earnings data on Tuesday. The business services provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates 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 Performance

NASDAQ CAR opened at $89.71 on Wednesday. Avis Budget Group has a one year low of $65.73 and a one year high of $171.43. The company’s 50 day moving average price is $88.75 and its 200 day moving average price is $88.37. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 8.19 and a beta of 2.26.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CAR shares. StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Northcoast Research lowered Avis Budget Group from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. decreased their price target on Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. 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 research note on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft decreased 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 research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.