Hertz Shares Plunge After Company Widens Loss, Misses Expectations


Hertz Global Holdings, Inc (NYSE:HTZ) issued its quarterly earnings data on Monday. Rating Scale: 1.0 represent "Strong Buy" and 2.0 signify "Buy" 3.0 while shows "Hold". The company reported awful earnings this morning. (HTZ). The consensus rating is 2.9, suggesting the market has given up on the stock.

Following U.S. election volatility some analysts have updated their recommended target prices on shares of Hertz Global Holdings, Inc (NYSE:HTZ).

United States of America based company, Hertz Global Holdings, Inc. Barclays PLC reissued an equal weight rating and set a $23.00 target price (down from $31.00) on shares of Hertz Global Holdings in a research note on Friday, February 24th. Federated Investors Inc. PA raised its position in shares of Hertz Global Holdings by 146.3% in the fourth quarter. Icahn Carl C now owns 29,263,869 shares of the transportation company's stock valued at $630,929,000 after buying an additional 16,325,273 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Hertz Global Holdings by 52.2% in the first quarter. It dropped, as 7 investors sold Telenav Inc shares while 26 reduced holdings.

The Estero, Florida-based company said it had a loss of $2.69 per share. Dimensional Fund Advisors LP now owns 1,136,099 shares of the transportation company's stock worth $24,494,000 after buying an additional 84,736 shares during the last quarter.

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During the latest trading session Hertz Global Holdings, Inc. Hertz Global Holdings, Inc has a 1-year low of $14.90 and a 1-year high of $53.14. The stock's market capitalization is $1.21 billion. Company's distance from 20 day simple moving average is -6.81% and distance from 50-Day simple moving average is -18.16%. During the quarter, analysts expected that the company would generate $1.94 billion in revenue. The firm's revenue was down.9% on a year-over-year basis. They expect $-0.27 earnings per share, down 42.11% or $0.08 from last year's $-0.19 per share. On average, equities research analysts forecast that Hertz Global Holdings will post $0.66 EPS for the current year.

Shares of Hertz have lost almost 39% in 2017, while shares of rival Avis Budget Group Inc.

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. Rev of $1.92bn (-3.4% Y/Y) missed CSE of $1.99bn and the Street at $1.94bn, with weakness in both USA (-3.8% Y/Y) and global (-5.1% Y/Y), although primarily attributable to the U.S, which delivered ($104mm) of EBITDA.