In the latest trading session, Avis Budget Group (CAR) closed at $138.25, marking a -0.5% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.72%. Elsewhere, the Dow lost 1.62%, while the tech-heavy Nasdaq added 0.01%.
Heading into today, shares of the car rental company had lost 25.17% over the past month, lagging the Business Services sector's loss of 12.47% and the S&P 500's loss of 9.09% 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 $15.07 per share, which would represent 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.
Investors might also notice recent changes to analyst estimates for Avis Budget Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 0.35% higher. Avis Budget Group is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Avis Budget Group is holding a Forward P/E ratio of 2.96. This valuation marks a discount compared to its industry's average Forward P/E of 14.13.
The Business - Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Avis Budget Group, Inc. (CAR) : Free Stock Analysis Report
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