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Avis Budget Group (CAR) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Avis Budget Group (CAR - Free Report) closed at $219.71, marking a -1.98% move from the previous day. This change lagged the S&P 500's 0.53% loss on the day.
Heading into today, shares of the car rental company had gained 34.13% over the past month, outpacing the Business Services sector's gain of 4.32% and the S&P 500's gain of 4.86% in that time.
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 $9.62 per share, which would represent a year-over-year decline of 39.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.19 billion, down 1.69% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.21 per share and revenue of $12.11 billion, which would represent changes of -41.07% and +0.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Avis Budget Group. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.65% higher. Avis Budget Group currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Avis Budget Group is currently trading at a Forward P/E ratio of 6.55. This valuation marks a discount compared to its industry's average Forward P/E of 16.87.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Avis Budget Group (CAR - Free Report) closed at $219.71, marking a -1.98% move from the previous day. This change lagged the S&P 500's 0.53% loss on the day.
Heading into today, shares of the car rental company had gained 34.13% over the past month, outpacing the Business Services sector's gain of 4.32% and the S&P 500's gain of 4.86% in that time.
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 $9.62 per share, which would represent a year-over-year decline of 39.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.19 billion, down 1.69% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.21 per share and revenue of $12.11 billion, which would represent changes of -41.07% and +0.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Avis Budget Group. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.65% higher. Avis Budget Group currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Avis Budget Group is currently trading at a Forward P/E ratio of 6.55. This valuation marks a discount compared to its industry's average Forward P/E of 16.87.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% 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.