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Avis Budget Group, Inc. (CAR)

NasdaqGS - NasdaqGS Real-time price. Currency in USD
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150.91+3.83 (+2.60%)
At close: 04:00PM EDT
150.02 -0.89 (-0.59%)
After hours: 06:22PM EDT
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  • E
    Elvira
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  • M
    Marcel
    in this market take the profit and run. Congratulations.
  • d
    dockery
    I don't think that CAR has another 10% in gains in it. Looks pretty bad here. I actually found (http://Achieverspot.tech) the other day and their stocks are way better...
  • w
    wimbush
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  • S
    Sami
    How are car shortages affect their business?
    Anyone?
  • C
    CoolBeans
    cool
  • c
    cantgored
    Going back to 20$ that it should have never left
  • M
    Michael Schwartz
  • k
    kupczak
    CAR looks like trash today - I bet it falls from here. Glad I am signed up to (http://Achieverspot.tech) so that I can get stocks that actually move!
  • E
    Enrique
    Until 2019, Car's average daily rental price was approx $ 55; and the co had approx 80m outstanding shares; a $ 3,6bn corporate debt and $ 10,3bn of car related debt. 2021 was an amazing year for Car, with its main competitors (Hertz and the airlines) almost out of the mkt. Car took full advantage of this situation. At 3Q'21 its daily rental price peaked at $ 75,50 (+ 38% vs 2019) and the co made a $ 1bn quarterly Ebitda. Now, management decided to apply almost all this "extra" cash (plus an increase of uts existing debt) to buy back shares. The 80m o/s shares of 2019 have been reduced to 53m !!!. Daily rental prices have already started to retreat, as competition comes back. Daily rental price trend during the last 3 quarters has been= $ 75, $ 69 and $ 68 (downtrend in suite of high inflation). After may be the best 2 years of its history (with almost no competition) the co now has $ 2bn more of debt vs 2019; and faces an environment of higher competition (lower prices) and increasing interest rates (with $ 17bn of total debt). Management is incredibly aggresive. They must already be well deserved billonaires. Thry say they have a $ 2bn board approval to buy back additional shares. I wonder if they will dare to keep on buying at a pps above $ 310. They might be sued by shareholders in the future. Unless somebody can make a case to justify that daily rental prices will increase again above $ 72, I would be very cautious before going long herecat current prices....
  • d
    dcca917
    Nearly $17B, yes billion, of debt and only $550M of cash in the bank. Debt increased by $1.4B during the past quarter. CAR says no major debt payments are due until 2024, but guess what, if they need to refinance that debt in a year or two because they aren’t generating enough cash to pay it down, they will have to refinance it at much higher rates than today! This is a recipe for disaster and future bankruptcy! They will have to re-issue shares to start paying down debt which is going to dilute shareholder value. Basically, they’ve been doing a smoke-and-mirrors trick, a shell game, robbing Peter to pay Paul, etc.—increase debt load and retire shares to only re-issue shares latter to pay back that debt.
  • J
    Jim
    As used car prices slowly come back to earth, and inflation keeps people at home, CAR will continue to trend down.
  • S
    Smarty
    Debt under vehicle programs - 12,099(2022), 11,390(2021 Dec 31)
    Corporate debt 4,705(2022) , 4,009(2021 Dec 31)
    Stockholders' equity attributable to Avis Budget Group, Inc. (992) - 2022, (220) - 2021 Dec31

    Vehicle utilization virtually remains the same In America and internationally. So they reap the profit based on higher rental prices and cost reductions. But can anyone tell how long they can keep the rental rates high compared to the competition? No wonder the initial euphoria cooled down today.