Hertz Global (HTZ) Discloses Amendment to Credit Agreement
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April 25, 2024 7:56 AM EDT
Hertz Global (NASDAQ: HTZ) reported a challenging first quarter of 2024, with financial results falling short of analyst expectations, leading to a 1.7% decline in its stock price. The car rental giant posted an adjusted net loss of $392 million, or -$1.28 per diluted share, which was significantly below the analyst estimate of -$0.45 per share. Despite a 2% increase in revenue to $2.1 billion, surpassing the consensus estimate of $2.04 billion, the company's earnings were heavily impacted by increased vehicle... More
April 23, 2024 8:57 AM EDT
Goldman Sachs analyst Lizzie Dove reiterated a Sell rating and $7.00 price target on Hertz Global (NASDAQ: HTZ). Comments followed an amendment to leverage covenants.
The analyst commented, "HTZ filed an amendment to increase its First Lien covenants through 1Q25, with additional limitations on restricted payments and permitted investments. The consolidated first... More
