Boston, MA 10/14/2013 (wallstreetpr) – Hertz Global Holdings, Inc. (NYSE:HTZ) opens today’s trading with anticipation having closed the prior week on a high note, gaining 4.08% to settle at $23.46 when the bell went off. The company has a market cap of $9.42 billion. The Friday’s trading saw the stock exceed its daily average share volume by about 2 million shares.
But good things don’t just end there for HTZ. The company has had what the market calls “business scoop” in Central Florida. Following a deal with the Florida Department of Transportation, HTZ will be offer 24/7 rental cruises for the Orlando residents.
In the new partnership, HTZ will be providing hourly car rental program around the clock for the city’s residents. The car rental rates are varied depending on the type of vehicle rented. However, the rates are set to start from $8 for an hour. This includes fuel and insurance. With such low-cost rental rates, HTZ is entering into a brisk business with an advantage edge.
The idea of 24/7 rental car program has more than a business angle. The parties to the partnership are committed to operating environmentally-friendly cars which are available conveniently throughout the city.
HTZ has now made it possible for customers to rent vehicles of their choice near their places of work or home at any time of the day or night. Car reservation can be done online and the vehicle picked up from any of the several yet convenient locations in the city. This again means that HTZ has the advantage of getting more customers to its network of fleets in the city.
Generally, HTZ has a lot of business strengths to its side. The company’s stock now has a consensus “buy” following comments from several equities analysts. Its average price target is $27.59.
In July’s quarterly earnings, the company reported $0.45 EPS on $2.72 billion revenue. In a comparable quarter for the prior year, it earned $0.35 EPS on revenue that was 22% lower than the last quarter.
