Avis Budget Group (CAR) Rises As Market Takes a Dip: Key Facts
Avis Budget Group (CAR) closed the most recent trading day at $159.44, moving +0.07% from the previous trading session. This change outpaced the S&P 500's 0.56% loss on the day. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.59%.
The car rental company's shares have seen a decrease of 15.58% over the last month, not keeping up with the Transportation sector's loss of 3.94% and the S&P 500's gain of 1.2%.
Analysts and investors alike will be keeping a close eye on the performance of Avis Budget Group in its upcoming earnings disclosure. The company's earnings report is set to go public on February 12, 2024. The company is forecasted to report an EPS of $4.38, showcasing a 58.13% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $2.8 billion, up 0.99% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Avis Budget Group. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Avis Budget Group is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Avis Budget Group is currently trading at a Forward P/E ratio of 6.41. This represents a discount compared to its industry's average Forward P/E of 14.31.
The Transportation - Services industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 202, positioning it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Avis Budget Group, Inc. (CAR) : Free Stock Analysis Report
