$1.71 Billion in Sales Expected for United Rentals, Inc. (URI) This Quarter
Brokerages expect United Rentals, Inc. (NYSE:URI) to announce $1.71 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for United Rentals’ earnings. The lowest sales estimate is $1.69 billion and the highest is $1.74 billion. United Rentals posted sales of $1.51 billion in the same quarter last year, which would indicate a positive year over year growth rate of 13.2%. The business is expected to report its next earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that United Rentals will report full year sales of $1.71 billion for the current fiscal year, with estimates ranging from $6.33 billion to $6.46 billion. For the next fiscal year, analysts forecast that the business will post sales of $6.80 billion per share, with estimates ranging from $6.55 billion to $7.13 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow United Rentals.
United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, July 19th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.09. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 EPS.
A number of analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a “hold” rating on shares of United Rentals in a research note on Friday, July 21st. ValuEngine lowered United Rentals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 20th. Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a research note on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $150.00 price target on shares of United Rentals in a research note on Tuesday, September 5th. Finally, Deutsche Bank AG lifted their price target on United Rentals from $121.00 to $130.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $126.97.
Shares of United Rentals (URI) traded up 0.58% during mid-day trading on Friday, hitting $128.10. The stock had a trading volume of 1,119,491 shares. The firm has a 50 day moving average of $116.96 and a 200-day moving average of $115.87. The stock has a market cap of $10.83 billion, a P/E ratio of 18.61 and a beta of 2.42. United Rentals has a one year low of $70.58 and a one year high of $134.28.
In other United Rentals news, CFO William B. Plummer sold 5,301 shares of United Rentals stock in a transaction on Friday, September 15th. The stock was sold at an average price of $128.26, for a total value of $679,906.26. Following the sale, the chief financial officer now owns 38,055 shares in the company, valued at $4,880,934.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction on Friday, July 21st. The shares were sold at an average price of $120.77, for a total value of $3,623,100.00. Following the completion of the sale, the insider now owns 302,292 shares in the company, valued at approximately $36,507,804.84. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Aviva PLC raised its position in United Rentals by 4.5% in the second quarter. Aviva PLC now owns 49,326 shares of the construction company’s stock valued at $5,560,000 after purchasing an additional 2,140 shares during the period. Atwood & Palmer Inc. purchased a new stake in United Rentals in the second quarter valued at $6,195,000. Schwab Charles Investment Management Inc. raised its position in United Rentals by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 390,497 shares of the construction company’s stock valued at $48,832,000 after purchasing an additional 16,701 shares during the period. American Century Companies Inc. raised its position in United Rentals by 111.5% in the second quarter. American Century Companies Inc. now owns 630,058 shares of the construction company’s stock valued at $71,014,000 after purchasing an additional 332,211 shares during the period. Finally, 1060 Capital LLC purchased a new stake in United Rentals in the second quarter valued at $29,797,000. Institutional investors own 93.72% of the company’s stock.
About United Rentals
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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