Hertz Global (HTZ) Announces Earnings Results, Beats Expectations By $0.36 EPS

Hertz Global (NYSE:HTZ) posted its earnings results on Thursday. The transportation company reported $2.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.36, Briefing.com reports. Hertz Global had a net margin of 4.87% and a negative return on equity of 8.10%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The company’s revenue was up 7.2% on a year-over-year basis.

Shares of NYSE:HTZ opened at $19.41 on Friday. The company has a debt-to-equity ratio of 16.24, a current ratio of 1.16 and a quick ratio of 1.16. Hertz Global has a 52-week low of $13.01 and a 52-week high of $25.14. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -12.21 and a beta of 0.89.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Hertz Global from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. ValuEngine raised shares of Hertz Global from a “hold” rating to a “buy” rating in a research report on Sunday, August 5th. TheStreet raised shares of Hertz Global from a “d” rating to a “c-” rating in a research report on Friday, August 24th. Barclays increased their price objective on shares of Hertz Global from $11.00 to $13.00 and gave the company an “underweight” rating in a research report on Wednesday, August 22nd. Finally, Goldman Sachs Group set a $13.00 price objective on shares of Hertz Global and gave the company a “sell” rating in a research report on Tuesday, October 16th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.00.

A number of large investors have recently modified their holdings of HTZ. Financial Architects Inc grew its position in Hertz Global by 63.9% in the second quarter. Financial Architects Inc now owns 8,977 shares of the transportation company’s stock valued at $138,000 after acquiring an additional 3,500 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Hertz Global during the second quarter worth approximately $153,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Hertz Global during the second quarter worth approximately $199,000. Naples Global Advisors LLC acquired a new stake in shares of Hertz Global during the second quarter worth approximately $230,000. Finally, Bank of Montreal Can grew its position in shares of Hertz Global by 1,035.8% during the second quarter. Bank of Montreal Can now owns 16,572 shares of the transportation company’s stock worth $255,000 after buying an additional 15,113 shares in the last quarter.

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About Hertz Global

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc, operates the Hertz, Dollar and Thrifty vehicle rental brands in approximately 9,700 corporate and franchisee locations throughout North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand.

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Earnings History for Hertz Global (NYSE:HTZ)

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