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Avis Budget Group (CAR) Gains As Market Dips: What You Should Know
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Avis Budget Group (CAR - Free Report) closed the most recent trading day at $150.31, moving +0.21% from the previous trading session. This change outpaced the S&P 500's 1.71% loss on the day. At the same time, the Dow lost 1.7%, and the tech-heavy Nasdaq lost 0.07%.
Coming into today, shares of the car rental company had lost 13.37% in the past month. In that same time, the Business Services sector lost 10.81%, while the S&P 500 lost 8.68%.
Investors will be hoping for strength from Avis Budget Group as it approaches its next earnings release. On that day, Avis Budget Group is projected to report earnings of $15.07 per share, which would represent year-over-year growth of 40.32%. Meanwhile, our latest consensus estimate is calling for revenue of $3.55 billion, up 18.26% from the prior-year quarter.
CAR's full-year Zacks Consensus Estimates are calling for earnings of $47.02 per share and revenue of $11.94 billion. These results would represent year-over-year changes of +109.07% and +28.25%, respectively.
Investors should also note any recent changes to analyst estimates for Avis Budget Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.35% higher. Avis Budget Group currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Avis Budget Group has a Forward P/E ratio of 3.19 right now. This valuation marks a discount compared to its industry's average Forward P/E of 14.75.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 45% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Avis Budget Group (CAR) Gains As Market Dips: What You Should Know
Avis Budget Group (CAR - Free Report) closed the most recent trading day at $150.31, moving +0.21% from the previous trading session. This change outpaced the S&P 500's 1.71% loss on the day. At the same time, the Dow lost 1.7%, and the tech-heavy Nasdaq lost 0.07%.
Coming into today, shares of the car rental company had lost 13.37% in the past month. In that same time, the Business Services sector lost 10.81%, while the S&P 500 lost 8.68%.
Investors will be hoping for strength from Avis Budget Group as it approaches its next earnings release. On that day, Avis Budget Group is projected to report earnings of $15.07 per share, which would represent year-over-year growth of 40.32%. Meanwhile, our latest consensus estimate is calling for revenue of $3.55 billion, up 18.26% from the prior-year quarter.
CAR's full-year Zacks Consensus Estimates are calling for earnings of $47.02 per share and revenue of $11.94 billion. These results would represent year-over-year changes of +109.07% and +28.25%, respectively.
Investors should also note any recent changes to analyst estimates for Avis Budget Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.35% higher. Avis Budget Group currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Avis Budget Group has a Forward P/E ratio of 3.19 right now. This valuation marks a discount compared to its industry's average Forward P/E of 14.75.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 45% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.