Yahoo Finance Avis Budget Group (CAR) Dips More Than Broader Markets: What You Should Know
Avis Budget Group (CAR) closed at $177.82 in the latest trading session, marking a -1.85% move from the prior day. This move lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.64%.
Heading into today, shares of the car rental company had lost 0.79% over the past month, lagging the Business Services sector's gain of 4.55% and the S&P 500's gain of 7.71% in that time.
Investors will be hoping for strength from Avis Budget Group as it approaches its next earnings release, which is expected to be May 1, 2023. On that day, Avis Budget Group is projected to report earnings of $3.50 per share, which would represent a year-over-year decline of 64.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.5 billion, up 2.99% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $28.66 per share and revenue of $12.05 billion, which would represent changes of -50.63% and +0.43%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Avis Budget Group. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.49% higher. Avis Budget Group is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Avis Budget Group is holding a Forward P/E ratio of 6.32. This represents a discount compared to its industry's average Forward P/E of 18.4.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 28, which puts it in the top 12% 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.
To follow CAR in the coming trading sessions, be sure to utilize Zacks.com.
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Avis Budget Group, Inc. (CAR) : Free Stock Analysis Report
