Avis Budget Group (CAR) Stock Moves -1.17%: What You Should Know
Avis Budget Group (CAR) closed the most recent trading day at $188.56, moving -1.17% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.64%. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 1.82%.
Heading into today, shares of the car rental company had lost 17.49% over the past month, lagging the Transportation sector's loss of 2.87% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Avis Budget Group as it approaches its next earnings release. The company is expected to report EPS of $13.83, down 36.27% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.59 billion, up 1.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $36.87 per share and revenue of $12.04 billion, which would represent changes of -36.49% and +0.35%, 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.15% lower. Avis Budget Group is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Avis Budget Group currently has a Forward P/E ratio of 5.18. This valuation marks a discount compared to its industry's average Forward P/E of 15.33.
The Transportation - Services industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 193, which puts it in the bottom 24% 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.
To follow CAR in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Avis Budget Group, Inc. (CAR) : Free Stock Analysis Report
