In the latest market close, Avis Budget Group (CAR) reached $166.41, with a +0.71% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.82% for the day. Meanwhile, the Dow gained 0.41%, and the Nasdaq, a tech-heavy index, added 0.95%.
Heading into today, shares of the car rental company had lost 2.93% over the past month, lagging the Transportation sector's gain of 2.33% and the S&P 500's gain of 5.59% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Avis Budget Group in its upcoming earnings disclosure. The company's earnings report is set to go public on February 12, 2024. The company is forecasted to report an EPS of $4.36, showcasing a 58.32% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.8 billion, reflecting a 1.03% rise from the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Avis Budget Group. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.47% downward. As of now, Avis Budget Group holds a Zacks Rank of #4 (Sell).
Looking at its valuation, Avis Budget Group is holding a Forward P/E ratio of 6.68. This indicates a discount in contrast to its industry's Forward P/E of 15.83.
The Transportation - Services industry is part of the Transportation sector. With its current Zacks Industry Rank of 177, this industry ranks in the bottom 30% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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