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Auto rental company Hertz falls on bigger-than-expected loss

10 May 2017
Auto rental company Hertz falls on bigger-than-expected loss

In the latest week Hertz Global Holdings, Inc. Commerzbank Aktiengesellschaft FI now owns 138,964 shares of the transportation company's stock worth $2,996,000 after buying an additional 103,516 shares during the last quarter.

Shares in the Florida-based company tumbled more than 17 per cent in extended trading on Monday after the company reported a net loss of $223m or $2.69 a share from continuing operations, compared with a narrower loss of $52m or 61 cents a share in the year-ago period. Dimensional Fund Advisors LP raised its stake in shares of Hertz Global Holdings by 8.1% in the fourth quarter. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. Finally, Federated Investors Inc.

08/28/2016 - Macquarie began new coverage on Hertz Global Holdings, Inc giving the company a " rating.

U.S. auto rental company Hertz Global Holdings Inc reported a bigger-than-expected quarterly loss and revenue below estimates, hit by lower pricing in the United States. In the profitability analysis, the company has gross profit margin of 50.50% while net profit margin was at 18.30%. 7594382 shares were traded on Hertz Global Holdings, Inc's last session. Its share price has grown -27.76% in three months and is down -9.53% for the last five trades.

Looking at the current price of the stock and the 52 week high and low, it suggests that the stock is likely to go Up in the future. A simple moving average (SMA) is an mathematical moving average calculated by adding the closing price of the security for a number of time periods and then dividing this total by the number of time periods. (NYSE:HTZ) market capitalization at present is $1.32B at the rate of $14.91 a share. Bottomline, we view this is as a significant negative for HTZ shares. During the same quarter in the prior year, the firm posted ($0.79) earnings per share.

Among 6 analysts covering Corium International (NASDAQ:CORI), 5 have Buy rating, 0 Sell and 1 Hold. This is compared with a net loss of $52 million during the same period past year. The firm's quarterly revenue was down 3.4% on a year-over-year basis.

While Hertz' revenue of $1.92 billion during its first quarter came in ahead of a consensus analyst estimate for revenue of about $1.75 billion, the company's adjusted loss was much wider than expected.

Several other analysts have also recently weighed in on HTZ. State of New Jersey Common Pension Fund D owned 2.17% of Hertz Global Holdings as of its most recent SEC filing. 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. The firm has "Equal Weight" rating by Barclays Capital given on Friday, February 24. Hertz Global Holdings presently has an average rating of "Hold" and an average target price of $35.38.

Herc Holdings Inc, formerly Hertz Global Holdings, Inc, is a holding company.

The strategy is a gamble that Hertz - whose largest shareholder is billionaire Carl Icahn - can get better prices with newer, nicer sport utility vehicles and that eventually, the company will get through its glut of unloved sedans and start to show results.