United Rentals, Inc. (URI) Forecasted to Post FY2017 Earnings of $10.79 Per Share
United Rentals, Inc. (NYSE:URI) – Stock analysts at Jefferies Group increased their FY2017 earnings estimates for United Rentals in a research note issued to investors on Tuesday. Jefferies Group analyst J. Jordan now anticipates that the construction company will post earnings of $10.79 per share for the year, up from their prior estimate of $10.23. Jefferies Group has a “Buy” rating and a $210.00 price target on the stock.
Other research analysts have also recently issued research reports about the company. Stifel Nicolaus lifted their target price on United Rentals from $133.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Barclays started coverage on United Rentals in a report on Tuesday, December 12th. They set an “underweight” rating and a $150.00 price target on the stock. UBS Group set a $150.00 price target on United Rentals and gave the stock a “hold” rating in a report on Thursday, October 19th. Deutsche Bank reiterated a “hold” rating and set a $157.00 price target (up from $130.00) on shares of United Rentals in a report on Tuesday, October 3rd. Finally, Zacks Investment Research lowered United Rentals from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $162.89.
United Rentals (NYSE:URI) last announced its earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.98 by $0.27. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. United Rentals’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.58 earnings per share.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fieldpoint Private Securities LLC purchased a new position in shares of United Rentals in the third quarter valued at $119,000. Americafirst Capital Management LLC purchased a new position in shares of United Rentals in the second quarter valued at $151,000. First Manhattan Co. grew its position in shares of United Rentals by 42.9% in the third quarter. First Manhattan Co. now owns 1,415 shares of the construction company’s stock valued at $196,000 after purchasing an additional 425 shares in the last quarter. Atria Investments LLC purchased a new position in shares of United Rentals in the fourth quarter valued at $246,000. Finally, Trexquant Investment LP purchased a new position in shares of United Rentals in the third quarter valued at $202,000. Institutional investors own 91.48% of the company’s stock.
In other United Rentals news, insider Michael Kneeland sold 30,000 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $144.72, for a total value of $4,341,600.00. Following the sale, the insider now directly owns 272,292 shares in the company, valued at $39,406,098.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donald C. Roof sold 4,500 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $143.95, for a total value of $647,775.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,760 shares of company stock worth $13,873,111. Corporate insiders own 1.20% of the company’s stock.
United Rentals declared that its board has approved a stock buyback program on Wednesday, October 18th that allows the company to buyback $373.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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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