dglobalnews.com Hertz Global Holdings, Inc Shares Plummet As Q1 Earnings Miss Badly
Published: Wed, May 10, 2017
Markets | By Armando Jensen

Hertz Global Holdings, Inc Shares Plummet As Q1 Earnings Miss Badly

Gabelli Funds LLC raised its stake in shares of Hertz Global Holdings by 18.4% in the first quarter.

On 12/15/2016 Michael J. Durham, Director, sold 125 with an average share price of $23.06 per share and the total transaction amounting to $2,882.50. Finally, Credit Agricole S A purchased a new position in Hertz Global Holdings during the fourth quarter valued at $341,000. On an adjusted basis, Hertz reported a net loss for the first quarter of $134 million, or $1.61 per diluted share, compared with an adjusted net loss of $67 million, or $0.79 per diluted share, for the same period past year.

Brokerage houses, on average, are recommending investors to buy Idera Pharmaceuticals, Inc. Despite downbeat forecast, the stock managed to record a gain of 3.17 percent in after-hours trading on Monday. Russell Investments Group Ltd. now owns 17,400 shares of the transportation company's stock valued at $305,000 after buying an additional 5,007 shares during the period.

Yet another important factor while evaluating a good buy/sell decision for Hertz Global Holdings, Inc. (HTZ) 52 week low value is at $14.32 and its current distance from 52 week low value is 4.12%.

Shares of Hertz Global Holdings, Inc (NYSE:HTZ) traded down 5.76% on Friday, hitting $16.36.

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The counter witnessed a trading volume of 2.82 million shares versus an average volume of 3.32 million shares during last trading session. (HTZ) touched the day high at $15.29 while its day Low was at $14.26. The stock's market cap is $1.24 billion. The big question facing HTZ stock investors is whether this vehicle rental company will be able to deliver a positive earnings surprise in the quarter to be reported.

The company posted a quarterly adjusted loss of $1.61 per share, which was wider than the Zacks Consensus Estimate of a loss of $1.00 and also the year-ago loss of 79 cents. The firm earned $2.01 billion during the quarter, compared to analyst estimates of $2.04 billion. (NYSE:HTZ) for the trailing twelve months paying dividend with the payout ratio of 0.00% to its shareholders. On average, equities research analysts expect that Hertz Global Holdings, Inc will post $0.66 earnings per share for the current year. The number of shares now owned by investors are 88.58 mln. For our stock under consideration here, Hertz Global Holdings, Inc. Morgan Stanley cut their price target on Hertz Global Holdings from $30.00 to $20.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 28th. Finally, Deutsche Bank AG restated a "hold" rating and issued a $24.00 target price on shares of Hertz Global Holdings in a research note on Wednesday, March 1st. Glenview Capital Management LLC bought a new stake in shares of Hertz Global Holdings during the fourth quarter valued at approximately $94,107,000. (UAA). The consensus rating is 2.8, suggesting the market has given up on the stock. The count of Hold ratings in that period was 7.

While Hertz performance remained disappointing, the company remains focused on its turnaround plan, which keeps customers at centre stage. The company's market capitalization is $1.25 billion with the total outstanding shares of 83.71 million.

Hertz reports under U.S. Rental Car (U.S. RAC), International Rental Car (International RAC) and All Other Operations segments.

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