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Avis Budget Group (CAR) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Avis Budget Group (CAR - Free Report) closed at $181.41, marking a -0.6% move from the previous day. This change lagged the S&P 500's daily gain of 2.6%. Meanwhile, the Dow gained 2.83%, and the Nasdaq, a tech-heavy index, added 0.04%.
Coming into today, shares of the car rental company had gained 9.31% in the past month. In that same time, the Business Services sector lost 16.75%, while the S&P 500 lost 12.9%.
Wall Street will be looking for positivity from Avis Budget Group as it approaches its next earnings report date. This is expected to be October 31, 2022. In that report, analysts expect Avis Budget Group to post earnings of $15.07 per share. This would mark year-over-year growth of 40.32%. Meanwhile, our latest consensus estimate is calling for revenue of $3.55 billion, up 18.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $47.02 per share and revenue of $11.94 billion. These totals would mark changes of +109.07% and +28.25%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Avis Budget Group. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Avis Budget Group is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Avis Budget Group has a Forward P/E ratio of 3.88 right now. This represents a discount compared to its industry's average Forward P/E of 12.82.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Avis Budget Group (CAR) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Avis Budget Group (CAR - Free Report) closed at $181.41, marking a -0.6% move from the previous day. This change lagged the S&P 500's daily gain of 2.6%. Meanwhile, the Dow gained 2.83%, and the Nasdaq, a tech-heavy index, added 0.04%.
Coming into today, shares of the car rental company had gained 9.31% in the past month. In that same time, the Business Services sector lost 16.75%, while the S&P 500 lost 12.9%.
Wall Street will be looking for positivity from Avis Budget Group as it approaches its next earnings report date. This is expected to be October 31, 2022. In that report, analysts expect Avis Budget Group to post earnings of $15.07 per share. This would mark year-over-year growth of 40.32%. Meanwhile, our latest consensus estimate is calling for revenue of $3.55 billion, up 18.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $47.02 per share and revenue of $11.94 billion. These totals would mark changes of +109.07% and +28.25%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Avis Budget Group. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Avis Budget Group is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Avis Budget Group has a Forward P/E ratio of 3.88 right now. This represents a discount compared to its industry's average Forward P/E of 12.82.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.