NEW YORK (TheStreet) -- Shares of Hertz Global (HTZ) were falling 1.6% to $21.50 after-hours Monday after the car rental company announced it won't be able to report its third quarter results on time.
In an SEC filing Hertz said it wasn't able to report its third quarter results on Nov. 10 as expected, and will miss the five day extension provided by Rule 12b-25(b). The company did not give an estimate for when it will be able to report the results of the quarter.
Hertz said the delay is due to its current review of financial records for fiscal years 2011, 2012, and 2013, and its potential impact on fiscal 2014 reports.
The car rental company also hasn't released its results for the second quarter of 2014.
TheStreet Ratings team rates HERTZ GLOBAL HOLDINGS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate HERTZ GLOBAL HOLDINGS INC (HTZ) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, good cash flow from operations, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."