|Bid||0.00 x 1200|
|Ask||0.00 x 2200|
|Day's Range||29.96 - 31.34|
|52 Week Range||21.63 - 37.27|
|Beta (5Y Monthly)||2.09|
|PE Ratio (TTM)||13.86|
|Earnings Date||Feb 18, 2020 - Feb 24, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||37.63|
(Bloomberg) -- Lyft Inc., whose ride-hailing service has been a frenemy of car-rental companies, just got a little less friendly with the likes of Hertz Global Holdings Inc. and Avis Budget Group Inc.Lyft said Thursday it’s testing out a car-rental service in Los Angeles and San Francisco and offering unlimited miles as an inducement. The announcement did little for its stock but sent Hertz and Avis shares plunging.While the rise of Lyft and Uber Technologies Inc. raised existential questions for more than century-old rental companies like Hertz and Avis several years ago, both companies have benefited recently by making their cars available to drivers that the ride-hailing services must keep adding to help support their growth. Avis even forged formal partnership with Uber in early 2017 and Lyft last year.Hertz and Avis can breathe easily for a while, said Hamzah Mazari, a Jefferies analyst who rates Avis a buy and Hertz a hold. Building up a big network of cars and rental lots is expensive, and Lyft doesn’t have the balance sheet to do it quickly.“I think the reaction is overblown,” Mazari said by phone. “Lyft doesn’t have a whole lot of capital so they won’t be able to take this nationwide. They are capital constrained, so I’m not too worried about it.”Representatives for Hertz and Avis didn’t immediately respond to requests for comment. The two erased gains following Lyft’s announcement, with Hertz ending the day down 4.8% and Avis dropping 4.4%.Lyft Rentals is a limited experiment that may change, according to the San Francisco-based company’s website. The smartphone app-based service won’t require a stop at a rental counter and will charge market rates for gasoline. Lyft also is offering $20 credits for transport to rental cars and discounts for Monday-through-Thursday use.To contact the reporters on this story: Chester Dawson in Southfield at email@example.com;David Welch in Southfield at firstname.lastname@example.orgTo contact the editor responsible for this story: Craig Trudell at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Avis Budget Group, in partnership with Verizon and Edison Interactive, today announced the launch of a new all-in-one digital travel assistant exclusively available to Avis, Budget, and Payless Car Rental customers. Business and leisure travelers can now rent Samsung tablets powered by Verizon – the nation’s largest, most reliable 4G LTE network – to stay connected on the go.
Leading car rental brand, Avis, has been named the world’s leading car rental company for the second year in a row at the World Travel Awards 2019 Grand Final. The award was announced at an awards ceremony in Muscat, Oman on 28th November 2019. The 26th annual World Travel Awards is globally recognized as a highly prestigious honours programme in global travel and tourism.
"The global economic environment is very favorable for investors. Economies are generally strong, but not too strong. Employment levels are among the strongest for many decades. Interest rates are paused at very low levels, and the risk of significant increases in the medium term seems low. Financing for transactions is freely available to good borrowers, […]
Does the December share price for Avis Budget Group, Inc. (NASDAQ:CAR) reflect what it's really worth? Today, we will...
Car rental companies are quickly expanding into a variety of different services, from package delivery to ridehailing, as the rise of startups like Uber and Lyft increases competition. So far, for Hertz, these new endeavors are paying off. The car rental company posted solid results for the third quarter of 2019, building on its revenue […]
Avis Car Rental was named the 2019 top rental car travel app by J.D. Power. The Avis mobile app ranked the highest in customer satisfaction, receiving the highest score out of all rental car travel apps in the J.D. Power 2019 U.S. Travel App Satisfaction Study.
Avis Budget Group has been honored as the winner of The Creating a Company Culture for Women to Advance and Succeed Award at the inaugural WINiT Awards presented by the Global Business Travel Association (GBTA). Avis Budget Group’s own Senior Vice President of Sales, Beth Kinerk, was also recognized by the organization as one of the Top 40 Women in Travel. WINiT for Women is a career development network for women in the travel, meetings, events and exhibition industries.
Avis Budget Group announces today it is one of the founding partners behind Urban Movement Labs, a first-of-its-kind public-private partnership to accelerate transportation innovation launched by Los Angeles Mayor Eric Garcetti. This unprecedented venture will focus on developing, testing and rolling out innovative transit solutions and addressing core challenges around climate change, technology and workforce development in Los Angeles.
Moody's Investors Service ("Moody's") has upgraded one tranche of rental truck asset-backed securities (ABS) issued by Centre Point Funding, LLC (the issuer) to A1 (sf) from Baa1 (sf). ABCR is the owner and operator of Avis Rent A Car System, LLC, Budget Rent A Car System, Inc. (Budget), Zipcar, Inc. and Payless Car Rental, Inc. Through Budget, ABCR indirectly owns Budget Truck Rental, LLC.
Traditional car rental companies that want to survive in an age increasingly dominated by digital technology have to expand beyond their core business. This means partnering with ridehailing apps, such as Uber and Lyft, which both Hertz and Avis have done, or using their fleet to provide vans to delivery services, which again both car […]
Avis Budget (CAR) delivered earnings and revenue surprises of -18.90% and -3.23%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
PARSIPPANY, N.J., Oct. 31, 2019 -- Avis Budget Group, Inc. (NASDAQ: CAR) today reported results for its third quarter ended September 30, 2019. Third Quarter 2019 over.
Avis Budget Group (NASDAQ: CAR ) announces its next round of earnings this Thursday. Here is Benzinga's everything-that-matters guide for the Q3 earnings announcement. Earnings and Revenue Wall Street ...
PARSIPPANY, N.J., Oct. 28, 2019 -- Avis Budget Group today announced the renewal of a multi-year agreement to extend its relationship as the exclusive car rental provider for.
Avis Budget (CAR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.