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Avis Budget Group (CAR) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Avis Budget Group (CAR - Free Report) closed at $260.58, marking a -1.03% move from the previous day. This move lagged the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the car rental company had gained 45.15% in the past month. In that same time, the Business Services sector gained 3.05%, while the S&P 500 gained 3.75%.
Wall Street will be looking for positivity from Avis Budget Group as it approaches its next earnings report date. In that report, analysts expect Avis Budget Group to post earnings of $6.75 per share. This would mark year-over-year growth of 1567.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.18 billion, up 59.09% from the year-ago period.
CAR's full-year Zacks Consensus Estimates are calling for earnings of $22.41 per share and revenue of $10.48 billion. These results would represent year-over-year changes of -0.36% and +12.57%, respectively.
Investors might also notice recent changes to analyst estimates for Avis Budget Group. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.7% higher within the past month. Avis Budget Group is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Avis Budget Group has a Forward P/E ratio of 11.75 right now. This valuation marks a discount compared to its industry's average Forward P/E of 17.52.
Investors should also note that CAR has a PEG ratio of 0.6 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Business - Services industry currently had an average PEG ratio of 0.88 as of yesterday's close.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 232, which puts it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Avis Budget Group (CAR) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Avis Budget Group (CAR - Free Report) closed at $260.58, marking a -1.03% move from the previous day. This move lagged the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the car rental company had gained 45.15% in the past month. In that same time, the Business Services sector gained 3.05%, while the S&P 500 gained 3.75%.
Wall Street will be looking for positivity from Avis Budget Group as it approaches its next earnings report date. In that report, analysts expect Avis Budget Group to post earnings of $6.75 per share. This would mark year-over-year growth of 1567.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.18 billion, up 59.09% from the year-ago period.
CAR's full-year Zacks Consensus Estimates are calling for earnings of $22.41 per share and revenue of $10.48 billion. These results would represent year-over-year changes of -0.36% and +12.57%, respectively.
Investors might also notice recent changes to analyst estimates for Avis Budget Group. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.7% higher within the past month. Avis Budget Group is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Avis Budget Group has a Forward P/E ratio of 11.75 right now. This valuation marks a discount compared to its industry's average Forward P/E of 17.52.
Investors should also note that CAR has a PEG ratio of 0.6 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Business - Services industry currently had an average PEG ratio of 0.88 as of yesterday's close.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 232, which puts it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.