Jefferies Group Analysts Lift Earnings Estimates for United Rentals, Inc. (URI)
United Rentals, Inc. (NYSE:URI) – Investment analysts at Jefferies Group boosted their Q4 2017 earnings estimates for shares of United Rentals in a research report issued to clients and investors on Tuesday. Jefferies Group analyst J. Jordan now forecasts that the construction company will post earnings of $3.53 per share for the quarter, up from their previous forecast of $3.14. Jefferies Group has a “Buy” rating and a $210.00 price objective on the stock. Jefferies Group also issued estimates for United Rentals’ FY2018 earnings at $16.87 EPS and FY2019 earnings at $19.70 EPS.
Several other research firms have also recently weighed in on URI. Bank of America set a $165.00 price target on United Rentals and gave the stock a “buy” rating in a research note on Thursday, October 19th. UBS Group set a $150.00 price target on United Rentals and gave the stock a “hold” rating in a research note on Thursday, October 19th. Buckingham Research began coverage on United Rentals in a report on Tuesday, November 21st. They issued a “neutral” rating and a $154.00 price objective for the company. Deutsche Bank reaffirmed a “hold” rating and issued a $157.00 price objective (up previously from $130.00) on shares of United Rentals in a report on Tuesday, October 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of United Rentals in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. United Rentals presently has an average rating of “Buy” and a consensus target price of $162.89.
United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, October 18th. The construction company reported $3.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.27. United Rentals had a return on equity of 44.81% and a net margin of 9.64%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. The company’s revenue was up 17.1% on a year-over-year basis.
United Rentals announced that its board has initiated a stock buyback plan on Wednesday, October 18th that authorizes the company to buyback $373.00 million in shares. This buyback authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
In other United Rentals news, insider Michael Kneeland sold 30,000 shares of the business’s 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 completion of the sale, the insider now owns 272,292 shares of the company’s stock, valued at $39,406,098.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald C. Roof sold 757 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $159.80, for a total value of $120,968.60. The disclosure for this sale can be found here. Insiders sold 91,760 shares of company stock valued at $13,873,111 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in URI. Schroder Investment Management Group grew its holdings in United Rentals by 2,817.7% during the second quarter. Schroder Investment Management Group now owns 19,315 shares of the construction company’s stock valued at $2,119,000 after purchasing an additional 18,653 shares during the period. Icon Advisers Inc. Co. bought a new stake in United Rentals during the second quarter valued at about $282,000. BlackRock Inc. grew its holdings in United Rentals by 3.3% during the second quarter. BlackRock Inc. now owns 6,025,017 shares of the construction company’s stock valued at $679,080,000 after purchasing an additional 190,803 shares during the period. Laurion Capital Management LP grew its holdings in United Rentals by 431.8% during the second quarter. Laurion Capital Management LP now owns 18,364 shares of the construction company’s stock valued at $2,070,000 after purchasing an additional 23,898 shares during the period. Finally, Profund Advisors LLC grew its holdings in United Rentals by 1.1% during the second quarter. Profund Advisors LLC now owns 2,256 shares of the construction company’s stock valued at $254,000 after purchasing an additional 24 shares during the period. 91.48% of the stock is owned by institutional investors and hedge funds.
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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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