Hertz Global (HTZ) Moves 10.7% Higher: Will This Strength Last?

Hertz Global Holdings, Inc. (HTZ) shares soared 10.7% in the last trading session to close at $5.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 27.6% gain over the past four weeks.

The uptick was owing to the spike in demand for car rentals following airport security delays during the partial government shutdown and subsequent shortage of Transportation Security Administration agents.

This company is expected to post quarterly loss of $0.77 per share in its upcoming report, which represents a year-over-year change of +31.3%. Revenues are expected to be $1.88 billion, up 3.7% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Hertz Global, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HTZ going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Hertz Global is part of the Zacks Transportation - Services industry. Expeditors International (EXPD), another stock in the same industry, closed the last trading session 0.7% lower at $144.53. EXPD has returned 0.2% in the past month.

For Expeditors International, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.32. This represents a change of -10.2% from what the company reported a year ago. Expeditors International currently has a Zacks Rank of #3 (Hold).

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Hertz Global Holdings, Inc. (HTZ): Free Stock Analysis Report

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