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Surging Earnings Estimates Signal Good News for Hertz Global (HTZ)

Zacks

Hertz Global Holdings, Inc. HTZ which is in the car rental business could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on HTZ’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Hertz Global could be a solid choice for investors.

Current Quarter Estimates for HTZ

In the past 30 days, two estimates have gone higher for Hertz Global while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.30 a share 30 days ago, to $1.41 today, a move of 8.5%.

Current Year Estimates for HTZ

Meanwhile, Hertz Global’s current year figures are also looking quite promising, with two estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.48 per share 30 days ago to a loss of $1.16 per share today, a move of 21.6%.

Hertz Global Holdings, Inc Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 13.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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