Avis Budget Group (CAR) Outpaces Stock Market Gains: What You Should Know
Avis Budget Group (CAR) closed at $236.27 in the latest trading session, marking a +0.78% move from the prior day. This move outpaced the S&P 500's daily gain of 0.39%.
Coming into today, shares of the car rental company had gained 14.76% in the past month. In that same time, the Business Services sector gained 3.29%, while the S&P 500 gained 3.16%.
Wall Street will be looking for positivity from Avis Budget Group as it approaches its next earnings report date. This is expected to be July 31, 2023. The company is expected to report EPS of $9.78, down 38.64% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.19 billion, down 1.64% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $35.14 per share and revenue of $12.11 billion, which would represent changes of -39.47% and +0.98%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 3.17% higher. Avis Budget Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Avis Budget Group currently has a Forward P/E ratio of 6.67. This represents a discount compared to its industry's average Forward P/E of 15.11.
The Business - Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 92, 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Avis Budget Group, Inc. (CAR) : Free Stock Analysis Report
