Here's Why Shares of Hertz Are Tanking Tuesday
Hertz shares declined after the company missed analysts' top- and bottom-line expectations.
A downside quarter was enough to halve the stock of car rental company Hertz (HTZ) - Get Report Tuesday as the company missed analysts' top-and bottom-line estimates for the quarter. The company reported adjusted earnings of $1.50 a share, well below analysts' consensus of $2.73 a share, while revenue also missed slightly at $2.54 billion. CEO John Tague said in a press release that the company will continue to cut costs in the long run as the company attempts to match earnings expectations with revenue.
