$1.79 Billion in Sales Expected for United Rentals, Inc. (URI) This Quarter
Wall Street analysts forecast that United Rentals, Inc. (NYSE:URI) will report sales of $1.79 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for United Rentals’ earnings. The lowest sales estimate is $1.68 billion and the highest is $1.88 billion. United Rentals posted sales of $1.52 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.8%. The firm is scheduled to announce its next earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that United Rentals will report full-year sales of $1.79 billion for the current fiscal year. For the next financial year, analysts expect that the company will report sales of $7.25 billion per share, with estimates ranging from $6.55 billion to $7.71 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow United Rentals.
United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 18th. The construction company reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.27. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company posted $2.58 earnings per share. United Rentals’s quarterly revenue was up 17.1% on a year-over-year basis.
A number of equities research analysts have issued reports on the stock. BidaskClub downgraded shares of United Rentals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded shares of United Rentals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Bank of America Corporation reaffirmed a “buy” rating and issued a $145.00 price objective (up from $130.00) on shares of United Rentals in a research report on Thursday, July 20th. Axiom Securities reaffirmed a “sell” rating on shares of United Rentals in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada raised shares of United Rentals from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $128.00 to $138.00 in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $140.70.
United Rentals (NYSE URI) opened at 144.40 on Monday. The company’s 50-day moving average price is $134.92 and its 200-day moving average price is $118.43. The company has a market cap of $12.21 billion, a PE ratio of 20.98 and a beta of 2.46. United Rentals has a 12-month low of $70.58 and a 12-month high of $147.60.
United Rentals declared that its board has approved a stock buyback program on Wednesday, October 18th that allows the company to repurchase $373.00 million in shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, insider Michael Kneeland sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $144.72, for a total value of $4,341,600.00. Following the completion of the transaction, the insider now directly owns 272,292 shares of the company’s stock, valued at approximately $39,406,098.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William B. Plummer sold 5,301 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $128.26, for a total transaction of $679,906.26. Following the completion of the transaction, the chief financial officer now directly owns 38,055 shares of the company’s stock, valued at $4,880,934.30. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barometer Capital Management Inc. purchased a new stake in United Rentals in the 3rd quarter worth approximately $4,384,000. Fisher Asset Management LLC lifted its stake in United Rentals by 350.6% in the 3rd quarter. Fisher Asset Management LLC now owns 41,407 shares of the construction company’s stock worth $5,745,000 after purchasing an additional 32,217 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in United Rentals by 1.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 61,866 shares of the construction company’s stock worth $8,582,000 after purchasing an additional 619 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in United Rentals by 3,873.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 189,670 shares of the construction company’s stock worth $26,315,000 after purchasing an additional 184,896 shares in the last quarter. Finally, Hermes Investment Management Ltd. lifted its stake in United Rentals by 10.8% in the 3rd quarter. Hermes Investment Management Ltd. now owns 6,185 shares of the construction company’s stock worth $858,000 after purchasing an additional 601 shares in the last quarter. Institutional investors and hedge funds own 93.66% of the company’s stock.
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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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