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

Posted May 10, 2017

State of New Jersey Common Pension Fund D bought a new position in Hertz Global Holdings, Inc (NYSE:HTZ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. Suntrust Banks Inc. now owns 12,822 shares of the transportation company's stock valued at $224,000 after buying an additional 434 shares during the period.

Now insiders hold 3,210,731 shares in the business which makes up 3.87% of shares. Russell Investments Group Ltd. acquired a new stake in shares of Hertz Global Holdings during the fourth quarter worth $265,000. Over the past five trading sessions it is -4.19%; 4.94% for the month; -0.53% for the last quarter; -33.13% for the past six-months; and -48.2% for the last 12 months.

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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. The transportation company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.00) by $0.61. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Hertz Global Holdings by 3.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,386,104 shares of the transportation company's stock valued at $59,392,000 after buying an additional 1,127,957 shares in the last quarter.

Insiders own 0.20% of the company shares. (HTZ) has the trading volume of 2.82 Million shares with the average trading volume of 3170 shares. The stock's market cap is $1.24 billion.

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For the past 5 years, Hertz Global Holdings, Inc.'s EPS growth has been almost -38.3%. The company has managed to keep price to sales ratio of 1.16 against an industry average of 3.68.

Hertz Global Holdings (NYSE:HTZ) last released its earnings results on Monday, February 27th.

Shares of Hertz Global Holdings (HTZ) are tumbling today after reporting a much larger-than-expected loss after yesterday's market close. The analysts estimated sales for the higher end at 2385.6 million and lower end at 383.9 million while the year ago reported sale was 2731 million.

Hertz' bearish run is mainly attributable to its disappointing past performance, as the company has lagged bottom-line estimates for three consecutive quarters now, thus instilling fears among investors about its future prospects. The company's 5 year Earnings per share growth and Capital Spending growth remains at 0 and 0. Equities research analysts anticipate that Hertz Global Holdings, Inc will post $0.66 EPS for the current fiscal year. If you are viewing this report on another domain, it was copied illegally and reposted in violation of USA & worldwide copyright law. Finally, Federated Investors Inc. Zacks Investment Research upgraded Hertz Global Holdings from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 10th. Credit Suisse Group AG cut Hertz Global Holdings from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $27.00 to $15.00 in a research report on Friday, February 17th. PA raised its stake in shares of Hertz Global Holdings by 146.3% in the fourth quarter. Also, the Hold rating count is 6 as of 05/05/17.

These are 2 Sell Ratings, 5 Hold Ratings, 1 Buy Rating. The count of Hold ratings in that period was 7.