In the last trading session, 1.35 million shares of the Avis Budget Group Inc (NASDAQ:CAR) were traded, and its beta was 2.19. Most recently the company’s share price was $86.27, and it changed around $2.31 or 2.75% from the last close, which brings the market valuation of the company to $3.08B. CAR currently trades at a discount to its 52-week high of $223.88, offering almost -159.51% off that amount. The share price’s 52-week low was $79.03, which indicates that the current value has risen by an impressive 8.39% since then. We note from Avis Budget Group Inc’s average daily trading volume that its 10-day average is 0.73 million shares, with the 3-month average coming to 584.36K.
Avis Budget Group Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.50. If we narrow it down even further, the data shows that 1 out of 11 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 3 recommended CAR as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Avis Budget Group Inc is expected to report earnings per share of 10.16 for the current quarter.
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Avis Budget Group Inc (NASDAQ:CAR) trade information
Instantly CAR has showed a green trend with a performance of 2.75% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 105.31 on recent trading dayincreased the stock’s daily price by 18.08%. The company’s shares are currently down -51.33% year-to-date, but still down -12.52% over the last five days. On the other hand, Avis Budget Group Inc (NASDAQ:CAR) is -15.44% down in the 30-day period. We can see from the shorts that 2.54 million shares have been sold at a short interest cover period of 3.92 day(s).
The consensus price target as assigned by Wall Street analysts is $158, which translates to bulls needing to increase their stock price by 45.4% from its current value. Analyst projections state that CAR is forecast to be at a low of $117 and a high of $248.
Avis Budget Group Inc (CAR) estimates and forecasts
Avis Budget Group 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 -44.66 percent over the past six months and at a -70.82% annual growth rate that is well below the industry average of -1.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -39.50% in revenue this quarter, and will report a decrease of -72.40% in the next quarter. The year-over-year growth rate is expected to be 1.30%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 3.63B in revenue for the current quarter. 6 analysts expect Avis Budget Group Inc to make 2.84B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 3.59B and 2.76B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 1.20%. Forecasts for the next quarter put sales growth at 2.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 82.81%.
CAR Dividends
Avis Budget Group Inc’s next quarterly earnings report is expected to be released on 2024-Oct-30.
Avis Budget Group Inc (NASDAQ:CAR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.81% of Avis Budget Group Inc shares, and 98.83% of them are in the hands of institutional investors. The stock currently has a share float of 101.68%. Avis Budget Group Inc stock is held by 358.0 institutions, with SRS INVESTMENT MANAGEMENT, LLC being the largest institutional investor. By 2024-03-31, it held 48.9632% of the shares, which is about 17.43 million shares worth $2.13 billion.
FMR LLC, with 9.205% or 3.53 million shares worth $431.73 million as of 2024-03-31, holds the second largest percentage of outstanding shares.
