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Avis Budget Group (CAR) Gains As Market Dips: What You Should Know
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Avis Budget Group (CAR - Free Report) closed at $199.60 in the latest trading session, marking a +1.29% move from the prior day. This move outpaced the S&P 500's daily loss of 0.14%. At the same time, the Dow lost 0.45%, and the tech-heavy Nasdaq lost 0.02%.
Heading into today, shares of the car rental company had lost 19.23% over the past month, lagging the Business Services sector's loss of 15.81% and the S&P 500's loss of 0.13% in that time.
Wall Street will be looking for positivity from Avis Budget Group as it approaches its next earnings report date. On that day, Avis Budget Group is projected to report earnings of $5.87 per share, which would represent year-over-year growth of 1730.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.46 billion, up 81.92% from the year-ago period.
Any recent changes to analyst estimates for Avis Budget Group should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 4.51% higher within the past month. Avis Budget Group is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Avis Budget Group is currently trading at a Forward P/E ratio of 9.44. This represents a discount compared to its industry's average Forward P/E of 17.25.
Also, we should mention that CAR has a PEG ratio of 0.49. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CAR's industry had an average PEG ratio of 0.64 as of yesterday's close.
The Business - Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 107, putting it in the top 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Avis Budget Group (CAR) Gains As Market Dips: What You Should Know
Avis Budget Group (CAR - Free Report) closed at $199.60 in the latest trading session, marking a +1.29% move from the prior day. This move outpaced the S&P 500's daily loss of 0.14%. At the same time, the Dow lost 0.45%, and the tech-heavy Nasdaq lost 0.02%.
Heading into today, shares of the car rental company had lost 19.23% over the past month, lagging the Business Services sector's loss of 15.81% and the S&P 500's loss of 0.13% in that time.
Wall Street will be looking for positivity from Avis Budget Group as it approaches its next earnings report date. On that day, Avis Budget Group is projected to report earnings of $5.87 per share, which would represent year-over-year growth of 1730.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.46 billion, up 81.92% from the year-ago period.
Any recent changes to analyst estimates for Avis Budget Group should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 4.51% higher within the past month. Avis Budget Group is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Avis Budget Group is currently trading at a Forward P/E ratio of 9.44. This represents a discount compared to its industry's average Forward P/E of 17.25.
Also, we should mention that CAR has a PEG ratio of 0.49. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CAR's industry had an average PEG ratio of 0.64 as of yesterday's close.
The Business - Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 107, putting it in the top 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.