Why Hertz Global Holdings Inc. (NASDAQ: HTZ) Stock Shouldn’t Be Ignored In 2024

In the last trading session, 6.06 million shares of the Hertz Global Holdings Inc. (NASDAQ:HTZ) were traded, and its beta was 2.00. Most recently the company’s share price was $7.69, and it changed around -$0.14 or -1.79% from the last close, which brings the market valuation of the company to $1.09B. HTZ currently trades at a discount to its 52-week high of $19.36, offering almost -151.76% off that amount. The share price’s 52-week low was $6.88, which indicates that the current value has risen by an impressive 10.53% since then. We note from Hertz Global Holdings Inc.’s average daily trading volume that its 10-day average is 4.12 million shares, with the 3-month average coming to 5.20 million.

Hertz Global Holdings Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 4 out of 11 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 5 recommended HTZ as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Hertz Global Holdings Inc. is expected to report earnings per share of -$0.36 for the current quarter.

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Hertz Global Holdings Inc. (NASDAQ:HTZ) trade information

Instantly HTZ has showed a red trend with a performance of -1.79% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -25.99% year-to-date, but still up 5.34% over the last five days. On the other hand, Hertz Global Holdings Inc. (NASDAQ:HTZ) is -2.04% down in the 30-day period. We can see from the shorts that 24.79 million shares have been sold at a short interest cover period of 5.92 day(s).

The consensus price target as assigned by Wall Street analysts is $23, which translates to bulls needing to increase their stock price by 66.57% from its current value. Analyst projections state that HTZ is forecast to be at a low of $15 and a high of $34.

Hertz Global Holdings Inc. (HTZ) estimates and forecasts

Hertz Global Holdings Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -37.12 percent over the past six months and at a -35.85% annual growth rate that is well below the industry average of -3.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -192.30% in revenue this quarter, and will report a decrease of -83.30% in the next quarter. The year-over-year growth rate is expected to be 2.60%, up from the previous year.

Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $2.06 billion in revenue for the current quarter. 8 analysts expect Hertz Global Holdings Inc. to make $2.46 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $2.05 billion and $2.44 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 0.50%. Forecasts for the next quarter put sales growth at 1.10%.

HTZ Dividends

Hertz Global Holdings Inc.’s next quarterly earnings report is expected to be released around April 25 and April 29.

Hertz Global Holdings Inc. (NASDAQ:HTZ)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.97% of Hertz Global Holdings Inc. shares, and 98.68% of them are in the hands of institutional investors. The stock currently has a share float of 99.64%. Hertz Global Holdings Inc. stock is held by 348 institutions, with Knighthead Capital Management, Llc being the largest institutional investor. By Jun 29, 2023, it held 38.39% of the shares, which is about 181.46 million shares worth $3.34 billion.

Blackrock Inc., with 3.12% or 14.77 million shares worth $271.55 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 4.19 million shares worth $51.28 million, making up 0.89% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 4.02 million shares worth around $73.99 million, which represents about 0.85% of the total shares outstanding.