Q3 2024 EPS Estimates for Avis Budget Group, Inc. (NASDAQ:CAR) Decreased by Zacks Research

Avis Budget Group, Inc. (NASDAQ:CAR) – Stock analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of Avis Budget Group in a note issued to investors on Monday, August 26th. Zacks Research analyst S. Dey now anticipates that the business services provider will post earnings of $8.86 per share for the quarter, down from their prior forecast of $10.34. The consensus estimate for Avis Budget Group’s current full-year earnings is $12.28 per share. Zacks Research also issued estimates for Avis Budget Group’s Q4 2024 earnings at $1.08 EPS, FY2024 earnings at $7.14 EPS, Q1 2025 earnings at ($2.46) EPS, Q2 2025 earnings at $3.46 EPS, Q3 2025 earnings at $8.82 EPS, Q4 2025 earnings at $2.43 EPS, FY2025 earnings at $12.24 EPS, Q1 2026 earnings at $0.31 EPS and FY2026 earnings at $10.21 EPS.

Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $2.60 by ($2.19). The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Avis Budget Group had a negative return on equity of 480.48% and a net margin of 10.05%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $11.01 EPS.

CAR has been the topic of several other reports. The Goldman Sachs Group reduced their price objective on Avis Budget Group from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on shares of Avis Budget Group from $205.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Bank of America reduced their price objective on shares of Avis Budget Group from $170.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Susquehanna dropped their target price on Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.57.

Avis Budget Group Stock Down 5.7 %

CAR stock opened at $81.33 on Wednesday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 2.57 and a beta of 2.21. Avis Budget Group has a twelve month low of $79.03 and a twelve month high of $224.29. The firm’s fifty day simple moving average is $98.01 and its two-hundred day simple moving average is $107.69.

Institutional Investors Weigh In On Avis Budget Group

Institutional investors and hedge funds have recently modified their holdings of the company. Central Valley Advisors LLC purchased a new position in Avis Budget Group in the 2nd quarter valued at approximately $25,000. Denali Advisors LLC lifted its stake in Avis Budget Group by 94.1% during the first quarter. Denali Advisors LLC now owns 231 shares of the business services provider’s stock worth $28,000 after purchasing an additional 112 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Avis Budget Group by 119.2% in the 1st quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 124 shares during the last quarter. TFO Wealth Partners LLC increased its stake in Avis Budget Group by 15,550.0% in the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 311 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock worth $75,000 after purchasing an additional 459 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.