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Avis Budget Group (CAR) Beats Stock Market Upswing: What Investors Need to Know
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Avis Budget Group (CAR - Free Report) ended the recent trading session at $113.11, demonstrating a +1.21% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 1.12%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.54%.
Coming into today, shares of the car rental company had lost 33.62% in the past month. In that same time, the Transportation sector gained 1.66%, while the S&P 500 gained 2.06%.
The investment community will be closely monitoring the performance of Avis Budget Group in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$2.27, marking a 129.4% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.54 billion, down 0.67% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.33 per share and revenue of $12.06 billion, indicating changes of -61.19% and +0.4%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Avis Budget Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 33.98% lower. Currently, Avis Budget Group is carrying a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Avis Budget Group has a Forward P/E ratio of 6.84 right now. This indicates a discount in contrast to its industry's Forward P/E of 15.26.
The Transportation - Services industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 226, placing it within the bottom 11% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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) Beats Stock Market Upswing: What Investors Need to Know
Avis Budget Group (CAR - Free Report) ended the recent trading session at $113.11, demonstrating a +1.21% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 1.12%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.54%.
Coming into today, shares of the car rental company had lost 33.62% in the past month. In that same time, the Transportation sector gained 1.66%, while the S&P 500 gained 2.06%.
The investment community will be closely monitoring the performance of Avis Budget Group in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$2.27, marking a 129.4% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.54 billion, down 0.67% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.33 per share and revenue of $12.06 billion, indicating changes of -61.19% and +0.4%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Avis Budget Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 33.98% lower. Currently, Avis Budget Group is carrying a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Avis Budget Group has a Forward P/E ratio of 6.84 right now. This indicates a discount in contrast to its industry's Forward P/E of 15.26.
The Transportation - Services industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 226, placing it within the bottom 11% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.