FY2017 Earnings Forecast for United Rentals, Inc. (URI) Issued By Oppenheimer Holdings
United Rentals, Inc. (NYSE:URI) – Research analysts at Oppenheimer Holdings increased their FY2017 earnings per share (EPS) estimates for shares of United Rentals in a research note issued to investors on Thursday. Oppenheimer Holdings analyst S. Schneeberger now expects that the construction company will post earnings per share of $10.56 for the year, up from their prior forecast of $9.64. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for United Rentals’ Q4 2017 earnings at $3.31 EPS and FY2018 earnings at $12.06 EPS.
Several other research analysts also recently issued reports on URI. KeyCorp reiterated a “hold” rating on shares of United Rentals in a report on Friday, October 20th. Axiom Securities restated a “sell” rating on shares of United Rentals in a report on Thursday, July 13th. BidaskClub downgraded United Rentals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Jefferies Group LLC increased their price objective on United Rentals from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 16th. Finally, UBS AG set a $150.00 price objective on United Rentals and gave the company a “hold” rating in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $144.97.
United Rentals (NYSE:URI) opened at 145.94 on Monday. The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 21.20 and a beta of 2.46. The stock has a 50 day moving average price of $137.49 and a 200 day moving average price of $119.10. United Rentals has a 52-week low of $70.58 and a 52-week high of $147.60.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, October 18th. The construction company reported $3.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.98 by $0.27. United Rentals had a return on equity of 38.38% and a net margin of 11.27%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm earned $2.58 EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis.
Several hedge funds have recently added to or reduced their stakes in URI. Highbridge Capital Management LLC bought a new position in shares of United Rentals during the 1st quarter worth about $355,000. Tudor Investment Corp ET AL boosted its position in shares of United Rentals by 203.7% during the 1st quarter. Tudor Investment Corp ET AL now owns 6,073 shares of the construction company’s stock worth $759,000 after purchasing an additional 4,073 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of United Rentals by 4.6% during the 1st quarter. HighTower Advisors LLC now owns 55,174 shares of the construction company’s stock worth $6,945,000 after purchasing an additional 2,416 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of United Rentals by 2.0% during the 1st quarter. Janus Capital Management LLC now owns 560,508 shares of the construction company’s stock worth $70,092,000 after purchasing an additional 11,018 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of United Rentals during the 1st quarter worth about $3,752,000. 93.58% of the stock is currently owned by institutional investors.
In other United Rentals news, Director Filippo Passerini sold 3,308 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $143.24, for a total transaction of $473,837.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Kneeland sold 30,000 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $144.72, for a total transaction of $4,341,600.00. Following the transaction, the insider now directly owns 272,292 shares in the company, valued at approximately $39,406,098.24. The disclosure for this sale can be found here. Insiders have sold 38,609 shares of company stock worth $5,495,344 in the last ninety days. Insiders own 1.20% of the company’s stock.
United Rentals declared that its board has initiated a share buyback program on Wednesday, October 18th that authorizes the company to buyback $373.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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