30.90 -0.40 (-1.29%)
After hours: 4:11PM EST
|Bid||31.30 x 1200|
|Ask||31.31 x 2200|
|Day's range||29.96 - 31.34|
|52-week range||21.63 - 37.27|
|Beta (5Y Monthly)||2.09|
|PE ratio (TTM)||13.86|
|Earnings date||18 Feb 2020 - 24 Feb 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||37.63|
(Bloomberg) -- Lyft Inc., whose ride-hailing service has been a frenemy of car-rental companies, just got a little less friendly with the likes of Hertz Global Holdings Inc. and Avis Budget Group Inc.Lyft said Thursday it’s testing out a car-rental service in Los Angeles and San Francisco and offering unlimited miles as an inducement. The announcement did little for its stock but sent Hertz and Avis shares plunging.While the rise of Lyft and Uber Technologies Inc. raised existential questions for more than century-old rental companies like Hertz and Avis several years ago, both companies have benefited recently by making their cars available to drivers that the ride-hailing services must keep adding to help support their growth. Avis even forged formal partnership with Uber in early 2017 and Lyft last year.Hertz and Avis can breathe easily for a while, said Hamzah Mazari, a Jefferies analyst who rates Avis a buy and Hertz a hold. Building up a big network of cars and rental lots is expensive, and Lyft doesn’t have the balance sheet to do it quickly.“I think the reaction is overblown,” Mazari said by phone. “Lyft doesn’t have a whole lot of capital so they won’t be able to take this nationwide. They are capital constrained, so I’m not too worried about it.”Representatives for Hertz and Avis didn’t immediately respond to requests for comment. The two erased gains following Lyft’s announcement, with Hertz ending the day down 4.8% and Avis dropping 4.4%.Lyft Rentals is a limited experiment that may change, according to the San Francisco-based company’s website. The smartphone app-based service won’t require a stop at a rental counter and will charge market rates for gasoline. Lyft also is offering $20 credits for transport to rental cars and discounts for Monday-through-Thursday use.To contact the reporters on this story: Chester Dawson in Southfield at firstname.lastname@example.org;David Welch in Southfield at email@example.comTo contact the editor responsible for this story: Craig Trudell at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Avis Budget Group, in partnership with Verizon and Edison Interactive, today announced the launch of a new all-in-one digital travel assistant exclusively available to Avis, Budget, and Payless Car Rental customers. Business and leisure travelers can now rent Samsung tablets powered by Verizon – the nation’s largest, most reliable 4G LTE network – to stay connected on the go.
Leading car rental brand, Avis, has been named the world’s leading car rental company for the second year in a row at the World Travel Awards 2019 Grand Final. The award was announced at an awards ceremony in Muscat, Oman on 28th November 2019. The 26th annual World Travel Awards is globally recognized as a highly prestigious honours programme in global travel and tourism.
Does the December share price for Avis Budget Group, Inc. (NASDAQ:CAR) reflect what it's really worth? Today, we will...
You would expect Coppélia to be a mainstay of the Royal Ballet repertoire, but Ninette de Valois’s 1954 production has often languished on the shelf undanced. All the more baffling, given that the company possesses one of the finest Swanildas in captivity: Marianela Núñez. The Argentine star danced the role on Friday night and her performance with Vadim Muntagirov can be seen in an international live cinema relay next week.
Avis Car Rental was named the 2019 top rental car travel app by J.D. Power. The Avis mobile app ranked the highest in customer satisfaction, receiving the highest score out of all rental car travel apps in the J.D. Power 2019 U.S. Travel App Satisfaction Study.
Avis Budget Group has been honored as the winner of The Creating a Company Culture for Women to Advance and Succeed Award at the inaugural WINiT Awards presented by the Global Business Travel Association (GBTA). Avis Budget Group’s own Senior Vice President of Sales, Beth Kinerk, was also recognized by the organization as one of the Top 40 Women in Travel. WINiT for Women is a career development network for women in the travel, meetings, events and exhibition industries.
Avis Budget Group announces today it is one of the founding partners behind Urban Movement Labs, a first-of-its-kind public-private partnership to accelerate transportation innovation launched by Los Angeles Mayor Eric Garcetti. This unprecedented venture will focus on developing, testing and rolling out innovative transit solutions and addressing core challenges around climate change, technology and workforce development in Los Angeles.
Avis Budget (CAR) delivered earnings and revenue surprises of -18.90% and -3.23%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
PARSIPPANY, N.J., Oct. 31, 2019 -- Avis Budget Group, Inc. (NASDAQ: CAR) today reported results for its third quarter ended September 30, 2019. Third Quarter 2019 over.
PARSIPPANY, N.J., Oct. 28, 2019 -- Avis Budget Group today announced the renewal of a multi-year agreement to extend its relationship as the exclusive car rental provider for.
Avis Budget (CAR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
PARSIPPANY, N.J., Oct. 07, 2019 -- Avis Budget Group, Inc. (NASDAQ: CAR) announced today that it plans to report its third quarter 2019 results after the market close on.
Avis Budget Group, Inc. (CAR) has announced its Avis Car Rental and Budget Car Rental Licensees of the Year for the International Region, which includes, Europe, the Middle East, Africa, Asia and Asia-Pacific. This year’s recipients of the annual awards are Avis Turkey and Budget Romania. The annual Avis Budget Group International Licensee Awards recognize licensee partners that have demonstrated growth in annual financial performance, measured against their respective country’s economic conditions, excellence in customer service and alignment with the brand’s initiatives.
Today we'll evaluate Avis Budget Group, Inc. (NASDAQ:CAR) to determine whether it could have potential as an...
Across the country, college and university student organizations make an impact by distributing healthcare supplies overseas, protecting the environment, tutoring and mentoring students, or hosting dance-offs to fundraise for a cause. To support the next generation of mission-driven leaders, Zipcar, the world’s leading car-sharing network and the largest campus car-sharing provider, today announced the 2019 winner of Students with Drive, the University of Michigan’s Blueprints for Pangaea chapter, and is kicking off its 8th annual contest calling student organizations from coast to coast to enter.
Avis has announced the launch of “Free Days”, a promotion that allows customers to earn a free rental day each time they complete two qualifying rentals. Formally known as “Drive Free,” the promotion runs through February 29, 2020 and is open to Avis Preferred members who reside in the United States or Canada. To participate, customers must register for the promotion at www.avis.com/freedays and complete two Avis rentals in an intermediate car or larger for a minimum of two consecutive days.
Most Americans need a car to travel virtually everywhere, but in today’s sharing economy where consumers increasingly pay for access – for movies, music and clothing – the need to own a car may be a thing of the past. A new study commissioned by Zipcar, the world’s leading car-sharing network, and conducted online by The Harris Poll among over 2,000 U.S. adults, reveals 70% of American drivers believe a car-sharing service is more economical than owning a vehicle. Roughly 7 in 10 urban (69%) and suburban (72%) drivers across the country agree that car-sharing services are more economical than owning a vehicle.
Avis Budget Group, the leading global provider of mobility solutions, has recently appointed Keith Rankin as President of the International region, which includes Europe, the Middle East, Africa (EMEA), Asia, Australia and New Zealand. Before his appointment, Keith was chief executive for the automotive division at Barloworld in South Africa – a licensee partner of Avis Budget Group. Keith started his career at Avis in 1998 where he led the financial planning department.