Avis Budget Stock Price Increases 6% Since Reporting Loss in Q1
Avis Budget Group, Inc. CAR reported a loss of $14.35 per share, narrower than the Zacks Consensus Estimate for a loss of $5.72. Notably, it had reported earnings per share (EPS) of $3.21 in the year-ago quarter. Total revenues of $2.4 billion missed the consensus estimate by 3.6% and declined 4.7% year over year.
The stock witnessed 5.8% growth since the earnings release on May 7 despite dismal earnings and revenue results.
CAR shares have lost 12.8% in the past year compared with the industry’s decline of 13.8% and the Zacks S&P 500 composite’s growth of 11.4%.
Avis Budget Group, Inc. price-consensus-eps-surprise-chart | Avis Budget Group, Inc. Quote
Revenues from the Americas amounted to $1.9 billion, indicating a…
