DoraDalton/iStock via Getty Images Summary Our initial report rated Canadian Apartment Properties Real Estate Investment Trust (CAR.UN:CA / CDPYF) a Hold. While we liked its portfolio and Canadian multifamily as an asset class, we didn't see an attractive margin of safety. This report gives an overview of CAPREIT's Q4 2023 results and our revised target price. Despite continued strong financial performance, we continue to believe the units do not offer an attractive return profile at this time. We also cont ...

公司股价表现 - 公司股价过去一个月下跌了42.3%，而 Zacks S&P 500 综合指数上涨了5%[2] - 公司当前季度预计每股亏损1.51美元，同比下降了119.6%[5] - 公司当前财年的一致盈利预期为20.51美元，同比下降了51.3%[6] 公司业绩评级 - 公司被评为 Zacks Rank 4 (卖出)[8] - 公司在过去四个季度中每次超过一致盈利预期[13] 公司财务状况 - 公司上一季度营收为27.6亿美元，同比下降了0.3%[11] - 公司被评为 Zacks Value Style Score 中的 A 级，表明其股价在同行业中处于折扣状态[17]

PARSIPPANY, N.J., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ:CAR) (the "Company") announced today that its wholly-owned subsidiary, Avis Budget Finance plc (the "Issuer"), priced a private offering of €600 million aggregate principal amount of 7.00% senior notes due 2029 (the "Notes"), which represents a €200 million increase from the previously announced size of the offering. The Notes will have a maturity date of February 28, 2029. The closing of the offering of the Notes is expecte ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Avis Budget Group (CAR) operates as a leading vehicle rental operator in North America, Europe and Australasia. The Zacks Consensus Estimate for its current year earnings has been revised 17.5% downward over the last 60 days. ChampionX (CHX) provides chemistry solutions and engineered equipment and technologies to companies drill for and produce oil and gas. The Zacks Consensus Estimate for its current year earnings has been revised ...

公司发行优先票据 - Avis Budget Group, Inc.宣布其全资子公司Avis Budget Finance plc打算进行私人发行，发行总额为4亿欧元的2029年到期的优先票据[1] - 公司打算利用票据发行的净收益来赎回所有已发行的截至2026年到期的4.750%优先票据，并支付相关费用和支出，剩余部分将用于一般企业用途[2] - 该票据和相关担保仅向合格的机构投资者提供，未在美国以外的地区注册，不得在美国以外的地区进行出售[3] 公司业务及前瞻性声明 - Avis Budget Group是全球领先的移动解决方案提供商，拥有Avis和Budget品牌，在全球约180个国家拥有大约10,250个租车点，以及Zipcar品牌，是全球领先的共享汽车网络[5] - 公司的前瞻性声明指出，票据发行和预期收益用途可能受到已知和未知风险和不确定性的影响，可能导致实际结果与前瞻性声明中表达的结果有所不同[6]

财务表现 - CAR第四季度调整后每股收益为7.1美元，超出Zacks Consensus Estimate，但同比下降了32.1%[1] - 公司总收入为27.6亿美元，略低于预期，与去年同期相比略有下降[2] - 美洲地区收入为21.7亿美元，同比下降1.8%，低于预期[4] - 国际地区收入为5.97亿美元，超出预期8.3%，同比增长5.3%[5] - 调整后的EBITDA为3.11亿美元，同比下降53%，EBITDA利润率为11.25%[6] - 美洲地区调整后EBITDA为3.09亿美元，同比下降50%；国际地区调整后EBITDA为2.8亿美元，同比下降56%[7] 财务状况 - CAR第四季度末现金及现金等价物为5.55亿美元，公司债务为48.2亿美元[8] - 公司在报告季度的经营活动中产生了7.93亿美元的净现金流，调整后的自由现金流为5.79亿美元[9] - 公司进行了股票回购和首次分红，回购了140万股股票，总价值为2.57亿美元，首次分红35.5亿美元[9] 市场反应 - CAR股价在财报发布后的2月12日起下跌了6.7%，投资者对盈利超出预期并不感到满意[3] - Avis Budget目前被评为Zacks Rank 5 (Strong Sell)[10]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-10308 AVIS BUDGET GROUP, INC. (Exact name of Registrant as specified in its charter) Delaware 06-0918165 (State or other jurisdiction of (I.R.S. Em ...

Hertz Global Holdings Inc.’s stock tumbled 12% Tuesday to put it on track for a record-low close, pulled down by bad news from its smaller rival, Avis Budget Group Inc. Hertz HTZ, -13.13% was last quoted at $7.61, its lowest level since it emerged from bankruptcy in 2021, according to Dow Jones Market Data. The stock has fallen for four of the past five days and is down 26% in the year to date. Last week, the car-rental company posted weaker-than-expected fourth-quarter earnings as it booked $245 million in ...

Avis Budget Group Inc. investors were having their worst day in four years on Tuesday, after the car-rental company said it sold a record number of vehicles during the fourth quarter in a bad market for used cars, due to vehicle oversupply and a spike in interest costs. Meanwhile, the company reported fourth-quarter profit that was well above expectations, despite a surprise decline in revenue. “Currently, there is a considerable amount of volatility in the used-car market,” said Chief Financial Officer Izz ...

财务数据和关键指标变化 - 公司在2023年全年创下历史最高收入,达到120亿美元,并创下第二高的调整后EBITDA约25亿美元 [14][56] - 第四季度收入约28亿美元,调整后EBITDA3.11亿美元 [14] 各条业务线数据和关键指标变化 美洲业务 - 第四季度美洲业务收入22亿美元,调整后EBITDA3.09亿美元,利润率超过14% [27][30] - 美洲业务全年调整后EBITDA近22亿美元 [31] - 第四季度美洲业务租赁量同比增长6%,较2019年增长17% [20][21][22] - 美洲业务价格同比下降7%,但仍较2019年高出20%以上 [25][26] 国际业务 - 第四季度国际业务收入同比增长5% [37] - 国际业务第四季度RPD同比下降2%,但较2019年增长近20% [37] - 国际业务全年调整后EBITDA4亿美元,利润率15% [39] 各个市场数据和关键指标变化 - 第四季度欧洲业务租赁量同比增长3%,较2019年下降20%,较第三季度有所改善 [34][35] - 欧洲市场国际入境游客租赁量同比增长12% [36] 公司战略和发展方向及行业竞争 - 公司采取谨慎的EV车队策略,在基础设施建设和车型多样化方面做好准备 [47][48][49] - 公司持续投资于技术和数据分析,提升运营效率和客户体验 [50][51][52][53][54][55] - 公司将继续保持严格的车队管理,匹配供需,应对成本上升压力 [58][59][75] 管理层对经营环境和未来前景的评论 - 管理层认为需求环境强劲,预计2024年各季度收入将呈现正常季节性,价格将高于2019年,第三季度达到峰值 [57][73][74] - 管理层将继续保持谨慎的车队管理策略,及时调整车队规模以应对成本上升压力 [75] 问答环节重要的提问和回答 问题1 **John Healy 提问** 询问公司2024年第一季度折旧成本预期及其变动原因 [79][80] **Izzy Martins 回答** 公司预计2024年第一季度总公司折旧成本将达到每辆车325美元,主要是为了调整车队规模以匹配需求 [80][81][82] 问题2 **Adam Jonas 提问** 询问公司EV车队在维修和碰撞方面是否面临挑战 [91][92] **Joe Ferraro 回答** 公司在EV车队管理方面未出现异常的维修和碰撞问题,采取了谨慎的策略,包括建设充电基础设施、采购多品牌车型等 [92]