PREVIEW: Hertz shares rise; rental car firm seen reporting another loss
** Shares in Hertz Global Holdings HTZ.O up 4.7% at $3.30, and rising for seventh straight session on Monday, ahead of Q3 report due before market open on Tuesday
** Wall St sees the car rental co reporting adj loss/shr of $0.50 vs earnings/shr of $0.70 in year-ago quarter on rev of $2.7 bln, flat vs $2.7 bln last year, according to latest data from LSEG
** In last 8 quarters, HTZ rev met or beat consensus view 6 times while adj loss met or beat half the time. Co has posted a loss in the 3 prior quarterly reports
** Hertz has been slimming down amid weak demand, clearing up EVs after higher-than-anticipated charges for repairs, fleet maintenance
** On Oct 21, HTZ shares closed off 8.6% after JP Morgan downgraded to ''underweight', cut estimates on softer travel trends, possible faster churn of vehicle fleet, which could lead to higher depreciation, lower EBITDA
** Despite recent winning streak, stock is down ~68% YTD vs ~22% gain for S&P 600 transportation industry index .SPSMCTRN
(Reporting By Sinéad Carew)
</body></html>Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
