Streetbeat News

HTZ

Hertz Global Holdings, Inc.

https://www.hertz.com

Industry

Rental & Leasing Services

Hertz Global Holdings, Inc. operates as a vehicle rental company. It operates through two segments, Americas Rental Car and International Rental Car. The company provides vehicle rental services under the Hertz, Dollar, and Thrifty brands from company-owned, licensee, and franchisee locations in the United States, Africa, Asia, Australia, Canada, the Caribbean, Europe, Latin America, the Middle East, and New Zealand. It also sells vehicles; and operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets. Hertz Global Holdings, Inc. was founded in 1918 and is headquartered in Estero, Florida.

Open

3.10

Mkt cap

955M

Volume

1.7M

High

3.20

P/E Ratio

-0.99

52-wk high

10.82

Low

3.09

Div yield

N/A

52-wk low

2.47

Hertz Global Holdings (HTZ) reported Q4 2023 adjusted EPS of $(1.36), missing the $(0.76) estimate, but sales of $2.18B exceeded the $2.16B estimate, marking a 7.32% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 12:31 pm

Earnings reports for various companies are scheduled for February 6, 2024, with projections ranging from significant profits to losses across diverse sectors. Notable mentions include BP, UBS, Frontier Group Holdings, and Spotify Technology, among others, indicating a broad spectrum of financial health and market expectations.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 10:42 am

Hertz Global Holdings Inc (NASDAQ:HTZ) has paused its procurement of Polestar vehicles amid a fleet restructuring, aiming to downsize its EV fleet. The decision follows an agreement with Polestar to waive Hertz's purchase requirements for 2024, with Hertz committing not to sell its existing Polestar EVs prematurely. The partnership, announced in 2022, initially involved Hertz purchasing up to 65,000 EVs from Polestar over five years. However, due to higher repair costs for EVs, Hertz is scaling back its EV fleet, affecting its timeline for achieving a 25% electric fleet by the end of 2024. Hertz has begun selling Tesla vehicles from its fleet, with plans to sell about 20,000 EVs this year. Following the news, Polestar's shares fell 7.3%, and Hertz's shares dropped 5.6%.

Portfolio Pulse from Anan Ashraf

February 06, 2024 | 5:17 am

Hertz Global Holdings (NASDAQ:HTZ) is scheduled to release its quarterly earnings report on February 6, 2024, with an estimated EPS of $-0.27. Analysts and investors will be closely watching if HTZ can outperform this estimate and provide positive guidance for the next quarter. Historical data shows a mixed reaction to past earnings reports, with the stock price fluctuating based on actual EPS outcomes and guidance. Currently, HTZ shares are trading at $8.7, reflecting a 55.26% decline over the last 52 weeks, indicating a bearish sentiment among long-term shareholders.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 2:02 pm

Today's whale activity in the Industrials sector highlighted unusual options trading for several companies, including bearish, bullish, and neutral sentiments across various expiration dates and strike prices. Notable trades were observed in CAT, BE, UBER, AAL, CPRT, SYM, BA, HTZ, VRT, and DE, with significant total trade prices and volumes indicating potential market movements.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:35 pm

Deutsche Bank analyst Chris Woronka has downgraded Hertz Global Holdings (HTZ) from Buy to Hold and reduced the price target from $16 to $9.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 2:17 pm

Wall Street analysts have updated their price targets and ratings for several US-listed companies. ResMed's target was raised by Needham, while Hertz and Tesla saw cuts by JP Morgan and KGI Securities, respectively. Deutsche Bank increased AT&T's target, Telsey Advisory did the same for Deckers Outdoor, and UBS downgraded Biogen with a lower target. Raymond James and Keybanc raised targets for Intuitive Surgical and Intuit, TD Cowen upgraded Covenant Logistics, and Citigroup slightly lowered JD.com's target.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 12:42 pm

JP Morgan analyst Ryan Brinkman has downgraded Hertz Global Holdings (HTZ) from Overweight to Neutral and reduced the price target from $17 to $11.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 10:58 am

Tesla, Inc. (TSLA) reported Q4 earnings with revenue of $25.17 billion and EPS of 71 cents, missing consensus estimates of $25.62 billion and 74 cents per share, respectively. Pre-market trading saw TSLA shares drop 7.8%. Other stocks also moved lower in pre-market trading, including CCC Intelligent Solutions Holdings Inc. (CCCS), Columbia Banking System, Inc. (COLB), Digital World Acquisition Corp. (DWAC), Hexcel Corporation (HXL), LG Display Co., Ltd. (LPL), Rumble Inc. (RUM), Nano Dimension Ltd. (NNDM), Foot Locker, Inc. (FL), and Hertz Global Holdings, Inc. (HTZ), following various negative triggers such as weak financial results and secondary offering pricing.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 10:52 am

Ark Invest CEO Cathie Wood supports Elon Musk's desire to increase his ownership of Tesla to 25% to lead AI and robotics initiatives. Wood praised Musk's vision and criticized the market's short-term focus. She also commented on Hertz scaling back its EV plans, noting the maintenance cost benefits of EVs over traditional cars. Wood mentioned Uber's encouragement for drivers to use Tesla vehicles. Tesla is a significant holding in several Ark ETFs, and Wedbush analyst Dan Ives views Musk's potential AI projects outside Tesla as a negative for the company.

Portfolio Pulse from Chris Katje

January 23, 2024 | 11:01 pm

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