Vehicle rental company Hertz falls on bigger-than-expected loss

Randall Padilla
May 10, 2017

A large part of the business for car-rental companies is offloading the thousands of cars that they retire from their fleets every year. The Street was anticipating Hertz to post a much smaller loss for the quarter of 91 cents on better sales of $1.94 billion, according to Thomson Reuters. Stock exchanged hands with the total volume of 2.70 Million shares, as contrast to its average volume of 344,924 shares. The stock's market cap is $1.06 billion.

TRADEMARK VIOLATION WARNING: This piece of content was first published by Markets Daily and is owned by of Markets Daily. If you are viewing this report on another publication, it was stolen and reposted in violation of global trademark & copyright law. The original version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/05/09/hertz-global-holdings-inc-htz-announces-quarterly-earnings-results.html. Share performance for the month is now at -4.97%.

During the latest trading session Hertz Global Holdings, Inc. (HTZ) has a trading volume of 6.71 Million shares, with an average trading volume of 3620 shares - with shares dropping to a 52 week low of $14.32, and the company's shares hitting a 52 week high of $ 53.14.

Headlines about Hertz Global Holdings (NYSE:HTZ) have been trending somewhat positive on Saturday, Alpha One Sentiment reports. It opened the session with a $15 price tag, later ranging from $14.26 to $15.29, the range at which the stock has traded at throughout the day. Hertz Global Holdings earned a coverage optimism score of 0.14 on AlphaOne's scale.

Stock is now moving with a negative distance from the 200 day simple moving average of approximately -49.87%, and has a poor year to date (YTD) performance of -30.84% which means the stock is constantly subtracting to its value from the previous fiscal year end price.

Now insiders hold 3,210,731 shares in the business which makes up 3.87% of shares. The stock now has Weekly Volatility of 5.61% and Monthly Volatility of 4.38%. State Board of Administration of Florida Retirement System raised its position in shares of Hertz Global Holdings by 3.0% in the fourth quarter. Russell Investments Group Ltd. now owns 17,400 shares of the transportation company's stock worth $305,000 after buying an additional 5,007 shares in the last quarter.

HTZ has been the subject of several recent research reports. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. The analysts estimated EPS for the higher end at 1.06 and lower end at -0.26 while the year ago reported earnings per share was 0.31. Morgan Stanley cut their target price on Hertz Global Holdings from $30.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 28th. During the height of the dot-com bubble in 2000 many start up internet stocks with very high betas were soaring in price only to subsequently collapse in value.

Tesla Inc (NASDAQ:TSLA) floats -1.96% below the 52-week top level and its EPS growth rate was -13.10% over prior 5 years with earnings growth of 4.20% yoy.

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

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