Avis

Read Avis Budget Group (NASDAQ:CAR) Releases Earnings Results, Beats Estimates By $6.54 EPS at Defense World.

Bank of America cut shares of Avis Budget Group from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $250.00 to $240.00 in a research note on Wednesday, April 6th. Barclays raised shares of Avis Budget Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $164.00 to $245.00 in a research note on Wednesday, April 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Avis Budget Group from $205.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 16th. Morgan Stanley lowered their target price on shares of Avis Budget Group from $170.00 to $168.00 and set an “underweight” rating for the company in a research note on Wednesday, February 16th. Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. In other Avis Budget Group news, Director Lynn Krominga sold 5,823 shares of Avis Budget Group stock in a transaction on Thursday, March 3rd. Based on data from MarketBeat, Avis Budget Group currently has an average rating of “Hold” and a consensus price target of $224.33. Avis Budget Group ( NASDAQ:CAR – Get Rating) issued its quarterly earnings data on Monday. The business services provider reported $9.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.45 by $6.54, MarketWatch Earnings reports. 37.30% of the stock is owned by company insiders. StockNews.com started coverage on shares of Avis Budget Group in a research note on Thursday, March 31st. Receive News & Ratings for Avis Budget Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group and related companies with MarketBeat.com's FREE daily email newsletter. Shares of CAR opened at $280.56 on Tuesday. The firm has a market cap of $14.47 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.61 and a beta of 2.01. The company’s fifty day moving average is $247.34 and its two-hundred day moving average is $227.84. Avis Budget Group has a fifty-two week low of $65.87 and a fifty-two week high of $545.11.

After a slow start to Avis Budget Group's first quarter because of the effects of the Covid-19 omicron variant, as other travel suppliers have reported, ...

Avis Budget reported $2.4 billion in revenue for the first quarter of 2022, a 77 percent increase from the same period in 2021 and a 27 percent increase from Q1 2019. Further, due to strong consumer feedback and "efficiencies we've seen in our workflow," Avis Budget is dedicating additional resources to expand its Avis QuickPass offering, Ferraro said, which enables preferred customers a contactless experience from arrival to completion of their rental. … Our split-bill technology allows us to have the consumer use their corporate card for midweek, then put it on their private card for the weekend."

This quarter s revenue was also 27% higher than the same period 2019, the last normalized quarter.

The International segment earned $23 million in adjusted EBITDA for the first quarter, the best first quarter adjusted EBITDA in International's history. Net income for the quarter was $527 million and adjusted EBITDA was $810 million, the company’s best first quarter adjusted EBITDA in its history, Avis reported in a May 2 news release. Our revenues were driven by rental days as demand improved throughout the quarter and Utilization for the quarter was 67.4%, which was in line with the first quarter of 2021.

PARSIPPANY, N.J., May 02, 2022 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced financial results for first quarter 2022.

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Despite a huge earnings beat that sent shares soaring after-hours on Monday, analysts remain skeptical of the sustainability of growth for Avis Budget Group ...

Avis (ticker: CAR) fell 1.8% Tuesday to $275.50. The stock has gained almost 33% year to date. Avis reported adjusted earnings of $9.99 a ...

Avis reported adjusted earnings of $9.99 a share for the first quarter, which smashed Wall Street expectations... Avis (ticker: CAR) fell 1.8% Tuesday to $275.50. The stock has gained almost 33% year to date. Shares of Avis Budget Group fell Tuesday after analysts said the car rental company’s strong first-quarter earnings could be “unsustainable.”

Avis Budget Group, Inc. (NASDAQ:NASDAQ:CAR) Q1 2022 Earnings Conference Call May 3, 2022, 8:30 AM ET Company Participants Joe Ferraro – Chief Executive ...

Shares of Avis Budget Group Inc. jumped 7% in after-hours trading Monday after the rental-car company reported better-than-expected first-quarter earnings,.

Revenue was 27% higher than the pre-pandemic first quarter of 2019, the company said. It has “well-laddered” corporate debt, and no meaningful maturities until 2024, it said. Adjusted for one-time items, Avis earned $9.99 a share. “Despite the impact of omicron on the first half of the quarter, our team was able to quickly pivot to manage the significantly increasing demand during the back half of the quarter,” Chief Executive Joe Ferraro said in a statement. Analysts polled by FactSet expected the rental-car company to report adjusted EPS of $3.45 on revenue of $2.16 billion. Avis CAR, +4.82%said it earned $527 million, or $9.71 a share, in the quarter, contrasting with a loss of $170 million, or $2.43 a share, in the year-ago period.

PARSIPPANY, N.J. (AP) _ Avis Budget Group Inc. (CAR) on Monday reported first-quarter net income of $529 million, after reporting a loss in the same period ...

Avis Budget shares have increased 33% since the beginning of the year. The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.54 per share.

Avis Budget Group Inc. reported a record first-quarter profit, which sent shares up by double digits in after-hours trading on strong results, ...

The rental car company reported adjusted earnings per share on Monday of $9.99, tripling analyst estimates as U.S. rentals nearly matched the first quarter in 2019, before the Covid-19 pandemic brought travel to a halt. Soaring used-car prices for vehicles Avis offloaded cut per-vehicle fleet costs by 90%, padding profit margins.

It would appear that Avis Budget Group (CAR) tried more than hard enough in the first quarter.

Avis Budget Group Inc (NASDAQ: CAR) shares are trading higher in Monday's after-hours session after the company reported strong financial results.

"Despite the impact of Omicron on the first half of the quarter, our team was able to quickly pivot to manage the significantly increasing demand during the back half of the quarter," said Joe Ferraro, CEO of Avis Budget Group. First-quarter adjusted EBITDA totaled $810 million. Avis said first-quarter revenue increased 77% year-over-year to $2.4 billion, which beat the $2.11 billion estimate, according to data from Benzinga Pro. The company reported quarterly adjusted earnings of $9.99 per share, which was up from a loss of 46 cents per share in the prior year quarter.