Wall Street analysts forecast that Avis Budget Group (CAR) will report quarterly loss of -$0.29 per share in its upcoming release, pointing to a year-over-year decline of 26.1%. It is anticipated that revenues will amount to $2.75 billion, exhibiting an increase of 1.3% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 14.8% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Avis Budget metrics that Wall Street analysts commonly model and monitor.
Analysts' assessment points toward 'Geographic Revenue- International' reaching $621.41 million. The estimate points to a change of +4.8% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Geographic Revenue- Americas' of $2.15 billion. The estimate suggests a change of +1.3% year over year.
Analysts expect 'Americas - Per-Unit Fleet Costs per Month' to come in at $328.2 per unit fleet cost per month. Compared to the present estimate, the company reported $430.0 per unit fleet cost per month in the same quarter last year.
According to the collective judgment of analysts, 'International - Per-Unit Fleet Costs per Month' should come in at $273.6 per unit fleet cost per month. Compared to the present estimate, the company reported $304.0 per unit fleet cost per month in the same quarter last year.
Based on the collective assessment of analysts, 'International - Rental Days' should arrive at 10887 days. Compared to the current estimate, the company reported 10956 days in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Americas - Revenue per Day, excluding exchange rate effects' will likely reach $68.10 . Compared to the current estimate, the company reported $68.64 in the same quarter of the previous year.
Analysts predict that the 'Americas - Vehicle Utilization' will reach 69.0%. Compared to the current estimate, the company reported 67.4% in the same quarter of the previous year.
It is projected by analysts that the 'International - Vehicle Utilization' will reach 70.2%. The estimate is in contrast to the year-ago figure of 68.3%.
The consensus estimate for 'Americas - Average Rental Fleet' stands at 496,375 . The estimate is in contrast to the year-ago figure of 497,713 .
Analysts forecast 'Total - Rental Days' to reach 42388 days. The estimate compares to the year-ago value of 41833 days.
The average prediction of analysts places 'International - Average Rental Fleet' at 168,587 . Compared to the present estimate, the company reported 174,253 in the same quarter last year.
The consensus among analysts is that 'Total - Average Rental Fleet' will reach 664,963 . Compared to the present estimate, the company reported 671,966 in the same quarter last year.
View all Key Company Metrics for Avis Budget here>>>
Shares of Avis Budget have experienced a change of -5.8% in the past month compared to the -1.7% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), CAR is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Avis Budget Group, Inc. (CAR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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