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Avis Budget Group (CAR) Stock Sinks As Market Gains: What You Should Know
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Avis Budget Group (CAR - Free Report) closed at $199.08 in the latest trading session, marking a -0.91% move from the prior day. This change lagged the S&P 500's 0.69% gain on the day. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%.
Coming into today, shares of the car rental company had gained 23.33% in the past month. In that same time, the Business Services sector gained 5.38%, while the S&P 500 gained 5.41%.
Investors will be hoping for strength from Avis Budget Group as it approaches its next earnings release. The company is expected to report EPS of $9.62, down 39.65% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.19 billion, down 1.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $34.21 per share and revenue of $12.11 billion. These totals would mark changes of -41.07% and +0.95%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Avis Budget Group. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 5.84% higher. Avis Budget Group is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Avis Budget Group has a Forward P/E ratio of 5.87 right now. This represents a discount compared to its industry's average Forward P/E of 16.82.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CAR in the coming trading sessions, be sure to utilize Zacks.com.
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Avis Budget Group (CAR) Stock Sinks As Market Gains: What You Should Know
Avis Budget Group (CAR - Free Report) closed at $199.08 in the latest trading session, marking a -0.91% move from the prior day. This change lagged the S&P 500's 0.69% gain on the day. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%.
Coming into today, shares of the car rental company had gained 23.33% in the past month. In that same time, the Business Services sector gained 5.38%, while the S&P 500 gained 5.41%.
Investors will be hoping for strength from Avis Budget Group as it approaches its next earnings release. The company is expected to report EPS of $9.62, down 39.65% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.19 billion, down 1.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $34.21 per share and revenue of $12.11 billion. These totals would mark changes of -41.07% and +0.95%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Avis Budget Group. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 5.84% higher. Avis Budget Group is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Avis Budget Group has a Forward P/E ratio of 5.87 right now. This represents a discount compared to its industry's average Forward P/E of 16.82.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CAR in the coming trading sessions, be sure to utilize Zacks.com.