Hertz Shares Plunge on Wide Earnings Miss

Should You Buy, Sell, Or Hold? - Idera Pharmaceuticals, Inc. (IDRA), Hertz Global Holdings, Inc. (HTZ)
Car rental company Hertz falls on bigger-than-expected loss
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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