We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Factors Likely to Shape Hertz Global's (HTZ) Earnings in Q3
Read MoreHide Full Article
Hertz Global Holdings, Inc. (HTZ - Free Report) is scheduled to release third-quarter 2018 results on Nov 8. In the last reported quarter, the company delivered a positive earnings surprise of 34.5%.
However, Hertz missed earnings estimates in seven of the preceding eight quarters. Also, it witnessed an average four-quarter negative earnings surprise of 8.1%.
Hertz Global Holdings, Inc Price, Consensus and EPS Surprise
On the earnings front, the Zacks Consensus Estimate for the third quarter is pegged at $1.78, mirroring an improvement of 25.4% from the year-ago quarter. Notably, the consensus mark remained stable over the last 30 days. For revenues, the Zacks Consensus Estimate stands at $2.64 billion, reflecting an increase of 2.5% from the year-ago quarter.
Let’s see how things are shaping up prior to this earnings announcement.
Factors at Play
Hertz remains on track with the execution of its turnaround plan to drive growth through enhanced fleet, service, brands and technology. Moreover, the company’s business segments performed impressively with higher revenues and adjusted EBITDA in the second quarter of 2018. Further, its turnaround initiatives in the United States bode well and marked the third straight quarter of growth owing to gains from robust strategies and significant investments in fleet, marketing and retail activities.
In addition, Hertz’s has been witnessing volume growth, courtesy of better mix of vehicles and rollout of the Ultimate Choice products. The company has also been benefiting from its technology transformation by updating, integrating and capitalizing on end-to-end digital innovations and microservices. These apart, Hertz remains focused to sustainable growth across all its business categories. All these initiatives are expected to drive the company’s top and bottom lines.
However, Hertz witnessed soft leisure travel in the second quarter due to lower demand in the tournament period of 2018 Football World Cup and the shift of Easter in the first quarter of 2018 versus 2017. This also hurt vehicle utilization. Moreover, the company remains keen on making higher investment spending toward fleet, brands and technology, which is expected to result in higher expenses and hurt profitability.
What the Zacks Model Unveils
Our proven model conclusively shows that Hertz is likely to beat estimates this quarter. This is because a stock needs to have both — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — for this to happen. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Hertz’s Earnings ESP of +13.48% and a Zacks Rank #2 make us reasonably confident of an earnings beat.
Other Stocks Poised to Beat Earnings Estimates
Here are some companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
Teekay Tankers Ltd. (TNK - Free Report) has an Earnings ESP of +5.40% and a Zacks Rank #3.
Frontline Ltd. (FRO - Free Report) has an Earnings ESP of +30.77% and a Zacks Rank #3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Factors Likely to Shape Hertz Global's (HTZ) Earnings in Q3
Hertz Global Holdings, Inc. (HTZ - Free Report) is scheduled to release third-quarter 2018 results on Nov 8. In the last reported quarter, the company delivered a positive earnings surprise of 34.5%.
However, Hertz missed earnings estimates in seven of the preceding eight quarters. Also, it witnessed an average four-quarter negative earnings surprise of 8.1%.
Hertz Global Holdings, Inc Price, Consensus and EPS Surprise
Hertz Global Holdings, Inc Price, Consensus and EPS Surprise | Hertz Global Holdings, Inc Quote
On the earnings front, the Zacks Consensus Estimate for the third quarter is pegged at $1.78, mirroring an improvement of 25.4% from the year-ago quarter. Notably, the consensus mark remained stable over the last 30 days. For revenues, the Zacks Consensus Estimate stands at $2.64 billion, reflecting an increase of 2.5% from the year-ago quarter.
Let’s see how things are shaping up prior to this earnings announcement.
Factors at Play
Hertz remains on track with the execution of its turnaround plan to drive growth through enhanced fleet, service, brands and technology. Moreover, the company’s business segments performed impressively with higher revenues and adjusted EBITDA in the second quarter of 2018. Further, its turnaround initiatives in the United States bode well and marked the third straight quarter of growth owing to gains from robust strategies and significant investments in fleet, marketing and retail activities.
In addition, Hertz’s has been witnessing volume growth, courtesy of better mix of vehicles and rollout of the Ultimate Choice products. The company has also been benefiting from its technology transformation by updating, integrating and capitalizing on end-to-end digital innovations and microservices. These apart, Hertz remains focused to sustainable growth across all its business categories. All these initiatives are expected to drive the company’s top and bottom lines.
However, Hertz witnessed soft leisure travel in the second quarter due to lower demand in the tournament period of 2018 Football World Cup and the shift of Easter in the first quarter of 2018 versus 2017. This also hurt vehicle utilization. Moreover, the company remains keen on making higher investment spending toward fleet, brands and technology, which is expected to result in higher expenses and hurt profitability.
What the Zacks Model Unveils
Our proven model conclusively shows that Hertz is likely to beat estimates this quarter. This is because a stock needs to have both — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — for this to happen. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Hertz’s Earnings ESP of +13.48% and a Zacks Rank #2 make us reasonably confident of an earnings beat.
Other Stocks Poised to Beat Earnings Estimates
Here are some companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
CSX Corporation (CSX - Free Report) has an Earnings ESP of +0.62% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Teekay Tankers Ltd. (TNK - Free Report) has an Earnings ESP of +5.40% and a Zacks Rank #3.
Frontline Ltd. (FRO - Free Report) has an Earnings ESP of +30.77% and a Zacks Rank #3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>