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Avis Budget Group (CAR) Gains But Lags Market: What You Should Know
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In the latest trading session, Avis Budget Group (CAR - Free Report) closed at $224.81, marking a +0.22% move from the previous day. This change lagged the S&P 500's 1.15% gain on the day. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 7.23%.
Heading into today, shares of the car rental company had gained 37.63% over the past month, outpacing the Business Services sector's gain of 2.48% and the S&P 500's gain of 3.08% in that time.
Wall Street will be looking for positivity from Avis Budget Group as it approaches its next earnings report date. On that day, Avis Budget Group is projected to report earnings of $9.65 per share, which would represent a year-over-year decline of 39.46%. Meanwhile, our latest consensus estimate is calling for revenue of $3.19 billion, down 1.69% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.31 per share and revenue of $12.11 billion, which would represent changes of -40.9% 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.
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.
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 0.96% higher within the past month. Avis Budget Group is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Avis Budget Group's current valuation metrics, including its Forward P/E ratio of 6.54. This valuation marks a discount compared to its industry's average Forward P/E of 15.83.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% 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 But Lags Market: What You Should Know
In the latest trading session, Avis Budget Group (CAR - Free Report) closed at $224.81, marking a +0.22% move from the previous day. This change lagged the S&P 500's 1.15% gain on the day. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 7.23%.
Heading into today, shares of the car rental company had gained 37.63% over the past month, outpacing the Business Services sector's gain of 2.48% and the S&P 500's gain of 3.08% in that time.
Wall Street will be looking for positivity from Avis Budget Group as it approaches its next earnings report date. On that day, Avis Budget Group is projected to report earnings of $9.65 per share, which would represent a year-over-year decline of 39.46%. Meanwhile, our latest consensus estimate is calling for revenue of $3.19 billion, down 1.69% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.31 per share and revenue of $12.11 billion, which would represent changes of -40.9% 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.
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.
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 0.96% higher within the past month. Avis Budget Group is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Avis Budget Group's current valuation metrics, including its Forward P/E ratio of 6.54. This valuation marks a discount compared to its industry's average Forward P/E of 15.83.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% 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.