Wall Street’s most bullish Hertz Global Holdings, Inc. (NYSE:HTZ) analysts are predicting the share price to blow past $38 per share during the next 12 months. The current median share price forecast by them is $20, suggesting that the stock could increase 23.53% in that time frame. The average price target of $22.56 calls for a nearly 39.35% increase in the stock price.
Hertz Global Holdings, Inc. (NYSE:HTZ) dropped -0.8% in recent trade and currently has a stock-market value of $1.4B. The shares finished at $16.19, after trading as low as $15.84 earlier in the session. It hit an intraday high Tuesday at $16.4. Trading activity significantly weakened as the volume at ready counter decreased to 2,276,656 shares versus 4,958,505 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 3,390,202 shares. The stock is now 24.44% above against its bear-market low of $13.01 on October 24, 2018. It has retreated -40.21% since it’s 52-week high of $22.7 reached in May. Now the market price is down -20.6% on the year and up 18.61% YTD.
HTZ stock’s 50 day simple moving average (SMA 50) price is $16.59 and its 200-day simple moving average (SMA 200) price is $16.74. The company’s stock currently has a total float of 83.25M shares. Its weekly volatility is hovering around 4.66% and felt 5.36% volatility in price over a month. On the upside, the share price will test short term resistance at around $16.45. On a downside, the stock is likely to find some support, which begins at $15.89. The failure to get near-term support could push it to $15.58.
It had seen a positive analyst call from Northcoast, which upgraded the stock from Neutral to Buy on March 04. Analysts at Barclays, shed their negative views on March 01 by lifting it fromUnderweight to Equal Weight. Brokerage firm Goldman, looks cautious as they stick to prior recommendation of Sell, in a call on February 15. However, they did change the target price from $15 to $13. Macquarie analysts came out with bullish views on January 18 when the call was made. They think the stock is now Outperform compared to to their prior call for Neutral.
Moreover, it trades for 9.27 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.33x price/book and 0.15x price/sales. Compared to others, Hertz Global Holdings, Inc. is in a different league with regards to profitability, having net margins of -2.4%. To put some perspective around this, the industry’s average net margin is 12.98%. HTZ’s ROE is -20.2%, which is also considerably worse than the industry’s ROE of 10.47%.
HTZ last reported earnings that exceeded expectations. The company raked in -$0.55 per share, -98.59% change on the same period last year. That was better than consensus for -$0.9. Revenue for the recent quarter stood at $2.29 billion, up 10% on last year and above the $2.15 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $2.05 billion to $2.22 billion, which should be compared with $2.03 billion generated last year. EPS is seen in a range of -$1.68 to -$0.94, against the -$0.87 reported a year ago.
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