Looking for a stock that might be in a good position to beat earnings at its next report? Consider Avis Budget Group, Inc. CAR, a firm in the Business Services sector, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, CAR has beaten estimates by at least 25.0% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, CAR expected to post 12 cents per share, while its earnings came in at 15 cents per share, a significant beat. Meanwhile, for the most recent quarter, the company looked to deliver earnings per share of 8 cents, when it actually saw 16 cents per share instead, representing a 100% positive surprise.
Thanks in part to this history, estimates have been moving higher for Avis Budget Group. In fact, the Earnings ESP for CAR is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company's earnings prospects. This is the case for CAR, as the firm currently has a Zacks Earnings ESP of 3.23 %, so another beat could be around the corner.
This is particularly true when you consider that CAR has a great Zacks Rank #1 (Strong Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. And when you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that CAR could see another beat at its next report, especially if recent trends are any guide.
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(We are reissuing this article to correct a mistake. The original article, issued on June 17, should no longer be relied upon.)
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AVIS BUDGET GRP CAR: Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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Earnings in Focus
Two quarters ago, CAR expected to post 12 cents per share, while its earnings came in at 15 cents per share, a significant beat. Meanwhile, for the most recent quarter, the company looked to deliver earnings per share of 8 cents, when it actually saw 16 cents per share instead, representing a 100% positive surprise.
Thanks in part to this history, estimates have been moving higher for Avis Budget Group. In fact, the Earnings ESP for CAR is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company's earnings prospects. This is the case for CAR, as the firm currently has a Zacks Earnings ESP of 3.23 %, so another beat could be around the corner.
This is particularly true when you consider that CAR has a great Zacks Rank #1 (Strong Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. And when you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that CAR could see another beat at its next report, especially if recent trends are any guide.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
(We are reissuing this article to correct a mistake. The original article, issued on June 17, should no longer be relied upon.)
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AVIS BUDGET GRP CAR: Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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