Avis Budget Group (NASDAQ:CAR) is expected to report Q3 earnings Thursday after the close with a conference call scheduled for Friday, November 7 at 9:00 am ET.
Analysts are looking for EPS of 59c on revenue of $1.74B. The consensus range is 50c to 67c for EPS, and $1.71B to $1.78B for revenue, according to First Call. Avis Budget Group announced Q3 revenue guidance on October 27. The company expects to record Q3 revenue of $1.7B vs. consensus $1.74B. Avis Budget also expects to record a pretax loss of $1B to $1.2B including unusual items.
Soleil stated in October it believes shares are factoring in a "what if" scenario and finds the valuation compelling at current levels. The firm lowered their target to $9 from $10 but maintains a Buy rating.
Avis Budget Group was downgraded to Equal Weight from Overweight at Barclays this month. The firm downgraded the company citing the global economic slowdown and refinancing risk.