Hertz Global Holdings, Inc (NYSE:HTZ) posted its quarterly earnings results on Tuesday. The transportation company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.51, Briefing.com reports. Hertz Global Holdings had a negative net margin of 7.60% and a negative return on equity of 1.86%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year.
Shares of Hertz Global Holdings (HTZ) traded up 23.04% during trading on Wednesday, reaching $17.57. The company had a trading volume of 28,838,027 shares. The stock’s 50-day moving average price is $13.07 and its 200-day moving average price is $15.83. The stock’s market capitalization is $1.47 billion. Hertz Global Holdings has a 12 month low of $8.52 and a 12 month high of $52.27.
Institutional investors have recently modified their holdings of the stock. WMS Partners LLC raised its position in shares of Hertz Global Holdings by 93.2% in the second quarter. WMS Partners LLC now owns 25,110 shares of the transportation company’s stock worth $289,000 after buying an additional 12,110 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Hertz Global Holdings during the second quarter worth about $993,000. Hosking Partners LLP raised its position in shares of Hertz Global Holdings by 1.7% in the second quarter. Hosking Partners LLP now owns 54,315 shares of the transportation company’s stock worth $625,000 after buying an additional 932 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Hertz Global Holdings by 102.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 428,215 shares of the transportation company’s stock worth $4,924,000 after buying an additional 216,810 shares during the last quarter. Finally, OZ Management LP purchased a new position in shares of Hertz Global Holdings during the second quarter worth about $15,397,000.
A number of analysts recently weighed in on the company. Deutsche Bank AG set a $14.00 price target on Hertz Global Holdings and gave the company a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded Hertz Global Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday. J P Morgan Chase & Co assumed coverage on Hertz Global Holdings in a research note on Friday, August 4th. They issued a “neutral” rating and a $15.00 price target on the stock. BidaskClub upgraded Hertz Global Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Barclays PLC downgraded Hertz Global Holdings from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $17.34 to $9.00 in a research note on Monday, July 31st. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.50.
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Hertz Global Holdings Company Profile
Herc Holdings Inc, formerly Hertz Global Holdings, Inc, is a holding company. The Company is engaged principally in the business of renting and leasing of cars through its Hertz, Dollar, Thrifty and Firefly brands, and equipment through its Hertz Equipment Rental brand. It operates through four segments: U.S.
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