Hertz Shares Plunge on Wide Earnings Miss

Hertz Shares Plunge on Wide Earnings Miss
Hertz Shares Plunge on Wide Earnings Miss
Author

10 May, 2017

In an overview of the current analyst recommendations, Buy count is 1 and Overweight is 2 while the number of analysts recommending Sell and Underweight are 4 and 2, respectively. The high-yield debt issue has a 6.25% coupon and is set to mature on October 15, 2022.

An uptick in leased new cars in recent years has left the used-car market oversupplied, said Karl Brauer, an analyst with Kelley Blue Book.

02/28/2017 - Hertz Global Holdings, Inc had its " rating reiterated by analysts at Deutsche Bank. Zacks Investment Research raised Hertz Global Holdings from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 10th. Credit Suisse Group AG cut Hertz Global Holdings from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $27.00 to $15.00 in a research report on Friday, February 17th. (NYSE:HTZ) now have an ABR of 3.00.which is marked on a basic 1 to 5 scale, where 1 stands for a Strong Buy and 5 represents Strong Sell. The company presently has a consensus rating of "Hold" and an average target price of $34.38. (NYSE:HTZ), its shares were trading at $14.98 a gain of $0.37, on the trading floor. The company's stock had a trading volume of 23,191,709 shares. The company's market capitalization is $1.25 billion with the total outstanding shares of 83.71 million. The stock has a 50 day moving average price of $16.75 and a 200-day moving average price of $22.38. Hertz Global Holdings, Inc has a 12 month low of $11.78 and a 12 month high of $53.14.

Hertz shares fell sharply in extended trading after the car-rental chain reported a larger-than-expected quarterly loss in the midst of turnaround efforts.

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Adjusting for one-time items, the company's loss of $1.61 a share was wider than Wall Street estimates of 84 cents. The business earned $2.01 billion during the quarter, compared to analysts' expectations of $2.04 billion. They expect $-0.27 earnings per share, down 42.11% or $0.08 from last year's $-0.19 per share. Over the a year ago Company's shares have been trading in the range of $10.93 and $19.03. Institutional investors and hedge funds own 91.26% of the company's stock.

Herc Holdings Inc, formerly Hertz Global Holdings, Inc, is a holding company. Taking a look into the performance of HTZ stock, investor will come to know that the weekly performance for this stock is valued at -9.16%, resulting in a performance for the month at -3.42%. Finally, Russell Investments Group Ltd. increased its stake in Hertz Global Holdings by 40.4% in the first quarter.

Tractor Supply Company (NASDAQ:TSCO) stock tumbled -0.47% to $61.66 on the closing of 05/08/2017. (NYSE:HTZ) net profit margin is -5.60%. If you are reading this story on another site, it was stolen and republished in violation of United States and worldwide copyright and trademark legislation. According to Hertz, pricing dropped 3% in Q1 impacted by an unfavorable customer mix, which the company is looking at in its long-term improvement plan.

Demand for rental cars, which, for many consumers are as appealing as a visit to the dentist's chair, is only part of the story, amid the proliferation of car-hailing companies such as Uber and Lyft.


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