$1.66 Billion in Sales Expected for United Rentals, Inc. (URI) This Quarter
Wall Street brokerages expect United Rentals, Inc. (NYSE:URI) to announce $1.66 billion in sales for the current quarter, according to Zacks. Five analysts have issued estimates for United Rentals’ earnings, with the lowest sales estimate coming in at $1.64 billion and the highest estimate coming in at $1.68 billion. United Rentals reported sales of $1.51 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The business is expected to report its next earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that United Rentals will report full-year sales of $1.66 billion for the current fiscal year. For the next fiscal year, analysts forecast that the company will post sales of $6.53 billion per share, with estimates ranging from $6.35 billion to $6.63 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for United Rentals.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, July 19th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.28 by $0.09. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. United Rentals had a return on equity of 48.11% and a net margin of 9.86%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $2.06 EPS.
URI has been the subject of several recent research reports. Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a report on Tuesday, June 6th. ValuEngine raised United Rentals from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. BidaskClub raised United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Bank of America Corporation reaffirmed a “buy” rating and issued a $145.00 price target (up previously from $130.00) on shares of United Rentals in a report on Thursday. Finally, Deutsche Bank AG initiated coverage on United Rentals in a report on Wednesday, April 5th. They issued a “hold” rating and a $125.00 price target for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $124.91.
United Rentals (NYSE:URI) traded down 2.64% during midday trading on Friday, reaching $119.31. The company’s stock had a trading volume of 1,782,197 shares. The stock has a 50 day moving average of $110.17 and a 200 day moving average of $116.51. The firm has a market capitalization of $10.08 billion, a PE ratio of 17.69 and a beta of 2.42. United Rentals has a 52 week low of $70.58 and a 52 week high of $134.28. United Rentals also was the target of unusually large options trading on Wednesday. Traders acquired 12,351 put options on the stock. This is an increase of approximately 459% compared to the average daily volume of 2,209 put options.
A number of large investors have recently added to or reduced their stakes in URI. Whittier Trust Co. raised its stake in United Rentals by 7.2% in the first quarter. Whittier Trust Co. now owns 894 shares of the construction company’s stock worth $112,000 after buying an additional 60 shares during the period. State of Alaska Department of Revenue acquired a new stake in United Rentals during the first quarter worth approximately $127,000. Contravisory Investment Management Inc. raised its stake in United Rentals by 48.5% in the first quarter. Contravisory Investment Management Inc. now owns 1,295 shares of the construction company’s stock worth $162,000 after buying an additional 423 shares during the period. Huntington National Bank raised its stake in United Rentals by 14.2% in the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock worth $163,000 after buying an additional 179 shares during the period. Finally, Dubuque Bank & Trust Co. raised its stake in United Rentals by 181.6% in the first quarter. Dubuque Bank & Trust Co. now owns 1,557 shares of the construction company’s stock worth $195,000 after buying an additional 1,004 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.
United Rentals Company Profile
United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.
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