Wall Street brokerages forecast that Hertz Global Holdings, Inc (NYSE:HTZ) will report $2.43 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Hertz Global’s earnings, with the highest sales estimate coming in at $2.45 billion and the lowest estimate coming in at $2.41 billion. Hertz Global posted sales of $2.39 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.7%. The company is expected to report its next earnings results on Monday, August 5th.

On average, analysts expect that Hertz Global will report full year sales of $9.76 billion for the current year, with estimates ranging from $9.67 billion to $9.89 billion. For the next fiscal year, analysts forecast that the company will post sales of $10.10 billion, with estimates ranging from $10.04 billion to $10.15 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Hertz Global.

Hertz Global (NYSE:HTZ) last released its earnings results on Monday, May 6th. The transportation company reported ($0.99) EPS for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.33. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Hertz Global had a positive return on equity of 3.17% and a negative net margin of 1.78%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.58) earnings per share.

Several brokerages recently issued reports on HTZ. Northcoast Research raised Hertz Global from a “neutral” rating to a “buy” rating in a research note on Monday, March 4th. Deutsche Bank increased their price objective on Hertz Global from $18.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, February 27th. ValuEngine raised Hertz Global from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Barclays raised Hertz Global from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $14.00 to $18.00 in a research note on Friday, March 1st. Finally, Zacks Investment Research raised Hertz Global from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Hertz Global has a consensus rating of “Hold” and an average price target of $18.33.

Shares of NYSE:HTZ opened at $17.45 on Wednesday. Hertz Global has a 52-week low of $13.01 and a 52-week high of $22.37. The company has a market capitalization of $1.47 billion, a P/E ratio of -102.65 and a beta of 1.95. The company has a current ratio of 1.33, a quick ratio of 1.61 and a debt-to-equity ratio of 18.68.

In related news, major shareholder Carl C. Icahn sold 5,000,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $19.45, for a total value of $97,250,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC boosted its position in Hertz Global by 54.6% during the 3rd quarter. MetLife Investment Advisors LLC now owns 41,443 shares of the transportation company’s stock valued at $677,000 after acquiring an additional 14,629 shares in the last quarter. Teachers Advisors LLC boosted its position in Hertz Global by 3.4% during the 3rd quarter. Teachers Advisors LLC now owns 138,286 shares of the transportation company’s stock valued at $2,258,000 after acquiring an additional 4,594 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Hertz Global by 3,114.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,805 shares of the transportation company’s stock valued at $134,000 after acquiring an additional 9,500 shares in the last quarter. Peregrine Capital Management LLC boosted its position in Hertz Global by 89.0% during the 4th quarter. Peregrine Capital Management LLC now owns 618,950 shares of the transportation company’s stock valued at $8,449,000 after acquiring an additional 291,512 shares in the last quarter. Finally, James Investment Research Inc. bought a new stake in Hertz Global during the 4th quarter valued at $942,000.

About Hertz Global

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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