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.

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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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