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

3.42

Mkt cap

1.2B

Volume

5.3M

High

3.82

P/E Ratio

-0.41

52-wk high

8.21

Low

3.40

Div yield

N/A

52-wk low

2.47

U.S. stocks traded lower, with the S&P 500, Nasdaq, and Dow all experiencing declines. Merck & Co. raised its 2024 outlook after reporting strong Q1 financial results. Impinj, Ultralife Corporation, and Processa Pharmaceuticals saw significant stock increases after positive financial reports, while ATN International, Hertz Global Holdings, and Orion Group Holdings faced declines due to disappointing financial performances.

Portfolio Pulse from Avi Kapoor

April 25, 2024 | 4:04 pm

Hertz Global Holdings, Inc (NASDAQ:HTZ) reported a 23% drop in stock price after announcing Q1 FY24 results. Despite a sales growth of 1.6% to $2.08 billion, surpassing analyst expectations, the company faced a decline in total revenue per day and missed adjusted EPS estimates. The decrease in stock price reflects concerns over fleet and operating costs, despite improvements in vehicle supply and operating efficiencies.

Portfolio Pulse from Shivani Kumaresan

April 25, 2024 | 2:54 pm

Hertz Global Holdings (HTZ) reported a Q1 adjusted EPS of $(1.28), missing the $(0.44) estimate by 190.91%, and a 428.21% decrease from last year's earnings. However, their quarterly sales of $2.08B exceeded the $2.04B estimate by 1.96%, marking a 1.61% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 11:31 am

Hertz Global Holdings (NYSE:HTZ) has seen a 3.56% increase in its short percent of float since the last report, with 25.52 million shares sold short, representing 20.96% of its available trading shares. This indicates a bearish market sentiment, although it doesn't necessarily predict a near-term price drop. Hertz's short interest is significantly higher than its peer group average of 6.79%, suggesting more bearish sentiment towards HTZ compared to its peers.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 8:45 pm

The article highlights the top 3 industrials stocks considered oversold in April, based on their RSI values being near or below 30. ChargePoint Holdings, Inc. (CHPT) was downgraded by Goldman Sachs, Hertz Global Holdings, Inc. (HTZ) had its price target lowered by Deutsche Bank, and SP Plus Corporation (SP) reported downbeat quarterly earnings but overall strong annual performance.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 12:17 pm

The upcoming week's earnings reports from major companies like Tesla, Meta Platforms, Microsoft, and Alphabet are highly anticipated as they could influence the market's direction. FactSet's report indicates that S&P 500 companies' earnings surprises are at or above their 10-year averages, despite a slight decline in the combined earnings per share growth rate. The focus shifts to tech companies, with 158 S&P 500 companies, including 11 Dow 30 components, expected to release their earnings. Tesla is expected to report a downbeat quarter, while Microsoft, Alphabet, and Meta are anticipated to report strong results. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) have seen declines from their all-time highs.

Portfolio Pulse from Shanthi Rexaline

April 21, 2024 | 9:45 pm

Deutsche Bank analyst Chris Woronka has maintained a Hold rating on Hertz Global Holdings (NASDAQ:HTZ) but lowered the price target from $10 to $6.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:40 pm

Morgan Stanley analyst Adam Jonas maintains an Equal-Weight rating on Hertz Global Holdings (HTZ) and lowers the price target from $10 to $9.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:14 pm

Wall Street experienced significant declines, with the Dow dropping 2.27% in its steepest weekly fall of 2024. Treasury yields spiked following a report of higher-than-expected job growth. Bullish views include Tesla's AI project potential, Apple's new AI model ReALM, and support for Shiba Inu. Bearish perspectives involve Meta sharing user data, challenges for Bitcoin spot ETFs, and Hertz's issues with Tesla EVs.

Portfolio Pulse from Michael Cohen

April 06, 2024 | 12:56 pm

Hertz Global Holdings' ambitious plan to revolutionize the car rental industry with a 100,000 Tesla EV fleet faced significant setbacks due to high repair costs, frequent accidents, and customer charging anxiety. The company's strategy, which also included a nationwide charging network and partnerships with Uber, was undermined by Tesla price cuts, leading to a devaluation of Hertz's EV fleet. Operational challenges and leadership disagreements further complicated the situation, prompting Hertz to shift focus back to gas-powered vehicles and seek new leadership with operational expertise.

Portfolio Pulse from Ramakrishnan M

April 05, 2024 | 11:24 am

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