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

Goldman Sachs analyst Lizzie Dove maintains a Sell rating on Hertz Global Holdings (NASDAQ:HTZ) and lowers the price target from $7 to $4.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 4:03 pm

Hertz plans to sell an additional 10,000 EVs in 2024 due to significant depreciation losses, totaling 30,000 EV sales. The company faced a $195 million charge to vehicle depreciation, with depreciation costs up $339 per vehicle, $119 of which is attributed to EVs. Despite a 2% revenue increase to $2.1 billion in Q1, Hertz reported $567 million in quarterly losses, largely due to depreciation costs. The sale includes models from Chevrolet, Kia, Mercedes, and Tesla at competitive prices.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 2:53 pm

Alphabet Inc. reported first-quarter revenue of $80.539 billion, a 15% increase year-over-year, surpassing estimates. Earnings were $1.89 per share, beating forecasts. Alphabet announced a $70 billion share repurchase program and its first-ever quarterly dividend, causing shares to rise 11.9% in pre-market trading. Other stocks also moved significantly in pre-market trading, with notable gainers including Tevogen Bio Holdings, Pineapple Energy, and Freight Technologies, and losers such as Aclarion, Vincerx Pharma, and SCWorx Corp.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:18 pm

Top Wall Street analysts have updated their price targets and ratings for several US-listed companies, including notable changes for Microsoft, Kratos Defense & Security Solutions, Intel, Plexus Corp, Hertz Global Holdings, Alphabet, Caterpillar, Tyler Technologies, Dow, and Tractor Supply Company. These adjustments reflect analysts' latest views on these companies' future prospects.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:07 pm

B of A Securities analyst John Babcock downgraded Hertz Global Holdings (HTZ) from Neutral to Underperform and reduced the price target from $9 to $3.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 11:02 am

Intel Corporation reported weaker-than-expected Q1 sales and issued lower EPS guidance, leading to a 7.2% drop in pre-market trading. Other companies like Boyd Gaming, Hertz Global Holdings, DexCom, Atlassian, ACM Research, Teladoc Health, and Roku also saw pre-market losses following disappointing financial results or corporate announcements.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 10:26 am

Hertz Global Holdings (NASDAQ:HTZ) plans to remove 30,000 electric vehicles from its fleet, up from an earlier plan of 20,000, due to high repair costs. This adjustment aims to align the fleet with demand, especially for rideshare, and reduce operating costs. Hertz reported a Q1 adjusted loss of $1.28 per share, significantly missing analyst expectations. Following the announcement, HTZ stock dropped 19.3%, contributing to a 54.1% decline year-to-date.

Portfolio Pulse from Anan Ashraf

April 26, 2024 | 8:46 am

U.S. stocks traded lower with the Nasdaq Composite down by around 100 points. Bristol Myers Squibb shares fell over 8% after Q1 results showed a loss, despite beating revenue expectations. Impinj, Ultralife Corporation, and Processa Pharmaceuticals saw significant gains after positive financial results or analyst coverage. Conversely, ATN International, Hertz Global Holdings, and JAKKS Pacific experienced notable declines due to disappointing financial outcomes.

Portfolio Pulse from Avi Kapoor

April 25, 2024 | 6:32 pm

Caterpillar Inc. shares fell by 6.6% after missing revenue estimates for Q1 fiscal 2024, despite beating EPS expectations. Other stocks experienced significant movements, with notable gainers including Barfresh Food Group and Safe & Green Holdings, and losers like E-Home Household Service Holdings and Chicken Soup for the Soul Entertainment.

Portfolio Pulse from Avi Kapoor

April 25, 2024 | 5:57 pm

In Thursday's intraday session, several industrials stocks experienced significant movements. Safe & Green Holdings, P.A.M. Transportation, Ultralife, and others saw notable gains, with Safe & Green Holdings leading at a 61.5% increase. On the downside, Hertz Global Holdings, Wilhelmina International, Microvast Holdings, and others faced declines, with Hertz Global Holdings dropping by 18.3%. Earnings reports influenced several of these movements, particularly for Ultralife, Gorman-Rupp, and Orion Group Holdings.

Portfolio Pulse from Benzinga Insights

April 25, 2024 | 4:31 pm

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