Avis Budget Group (CAR) Stock Dips While Market Gains: Key Facts
Avis Budget Group (CAR) closed the most recent trading day at $179.51, moving -0.74% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.14%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 0.16%.
Shares of the car rental company have appreciated by 1.1% over the course of the past month, underperforming the Transportation sector's gain of 8.25% and the S&P 500's gain of 4.89%.
The upcoming earnings release of Avis Budget Group will be of great interest to investors. 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. In the meantime, our current consensus estimate forecasts the revenue to be $2.8 billion, indicating a 0.99% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $40.18 per share and revenue of $12.04 billion. These totals would mark changes of -30.78% and +0.39%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Avis Budget Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Avis Budget Group holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Avis Budget Group is holding a Forward P/E ratio of 4.5. This signifies a discount in comparison to the average Forward P/E of 15.09 for its industry.
The Transportation - Services industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 192, finds itself in the bottom 24% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Avis Budget Group, Inc. (CAR) : Free Stock Analysis Report
