Hertz Global Holdings, Inc (NYSE:HTZ) Expected to Announce Quarterly Sales of $918.94 Million

Equities analysts predict that Hertz Global Holdings, Inc (NYSE:HTZ) will announce sales of $918.94 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Hertz Global’s earnings, with the lowest sales estimate coming in at $829.58 million and the highest estimate coming in at $1.01 billion. Hertz Global posted sales of $2.51 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 63.4%. The company is expected to announce its next quarterly earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Hertz Global will report full year sales of $6.37 billion for the current financial year, with estimates ranging from $6.04 billion to $6.95 billion. For the next financial year, analysts expect that the company will post sales of $7.98 billion, with estimates ranging from $7.60 billion to $8.69 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Hertz Global.

Hertz Global (NYSE:HTZ) last announced its quarterly earnings data on Monday, May 11th. The transportation company reported ($1.78) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.19) by ($0.59). The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.99 billion. Hertz Global had a negative net margin of 2.78% and a negative return on equity of 0.12%. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.99) EPS.

HTZ has been the subject of a number of research analyst reports. Morgan Stanley cut their price objective on shares of Hertz Global from $5.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, April 21st. Northcoast Research lowered shares of Hertz Global from a “buy” rating to a “neutral” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. lowered shares of Hertz Global from a “neutral” rating to an “underweight” rating in a research report on Thursday, April 23rd. Royal Bank of Canada reissued a “buy” rating on shares of Hertz Global in a research report on Saturday, March 28th. Finally, Deutsche Bank reissued a “hold” rating and issued a $3.00 price target on shares of Hertz Global in a research report on Monday, June 15th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Hertz Global presently has a consensus rating of “Hold” and a consensus target price of $8.17.

In other news, CFO Jamere Jackson sold 26,899 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $1.02, for a total transaction of $27,436.98. Following the sale, the chief financial officer now directly owns 162,409 shares of the company’s stock, valued at $165,657.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vincent J. Intrieri sold 18,439 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $4.31, for a total transaction of $79,472.09. Following the sale, the director now directly owns 18,921 shares in the company, valued at $81,549.51. The disclosure for this sale can be found here. Insiders have sold 55,414,173 shares of company stock worth $39,981,724 over the last ninety days. Insiders own 0.37% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. bought a new stake in shares of Hertz Global during the first quarter valued at approximately $41,000. Trustcore Financial Services LLC bought a new stake in shares of Hertz Global during the first quarter valued at approximately $62,000. Raymond James & Associates bought a new stake in shares of Hertz Global during the first quarter valued at approximately $65,000. Russell Investments Group Ltd. grew its stake in shares of Hertz Global by 277.7% during the first quarter. Russell Investments Group Ltd. now owns 10,840 shares of the transportation company’s stock valued at $66,000 after purchasing an additional 7,970 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Hertz Global during the first quarter valued at approximately $72,000.

Shares of HTZ traded up $0.06 during trading hours on Monday, reaching $1.47. 20,735,500 shares of the company traded hands, compared to its average volume of 39,846,984. The stock’s fifty day moving average is $2.13 and its 200 day moving average is $9.23. The stock has a market cap of $200.63 million, a P/E ratio of -0.87 and a beta of 1.40. The company has a debt-to-equity ratio of 13.81, a quick ratio of 2.19 and a current ratio of 2.19. Hertz Global has a 1-year low of $0.40 and a 1-year high of $20.85.

Hertz Global Company Profile

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 and Estimates for Hertz Global (NYSE:HTZ)

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