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Avis Budget (CAR) Stock Gains Ahead of Earnings Report

NEW YORK (TheStreet) -- Shares of Avis Budget Group (CAR - Get Report) were gaining 4.5% to $52.16 in afternoon trading on Monday, ahead of the car rental company's third quarter earnings report, which is due after the market closes.

Analysts expect Avis to report earnings of $2.02 a share and revenue of $2.6 billion for the third quarter.

Avis reported earnings of 84 cents a share for the second quarter, above analysts' estimates of 69 cents a share. The company reported revenue of $2.17 billion for the second quarter, compared to analysts' estimates of $2.24 billion.

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The company reported earnings of $1.91 a share for the third quarter of 2014, above analysts' estimates of $1.81 a share. Avis saw revenue of $2.54 billion in the year-ago quarter, compared to analysts' estimates of $2.55 billion.

About 3.5 million shares of Avis were traded by 1:38 p.m. Monday, above the company's average trading volume of about 2.2 million shares a day.

TheStreet Ratings team rates AVIS BUDGET GROUP INC as a...


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