Earnings Estimates Moving Higher for Avis Budget (CAR): Time to Buy?

Avis Budget Group, Inc. CAR is a leading global mobility solutions provider that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CAR’s earnings for the year. In fact, consensus estimates have moved sharply higher over the past four weeks, suggesting that Avis Budget could be a solid choice for investors.

Current Year Estimates for CAR

Avis Budget’s current year figures are looking quite promising, with four estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $3.75 per share 30 days ago to $4.09 per share today, an increase of 9.1%.

Avis Budget Group, Inc. Price and Consensus

Avis Budget Group, Inc. price-consensus-chart | Avis Budget Group, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 7.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.