Equities research analysts predict that United Rentals, Inc. (NYSE:URI) will report $1.88 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for United Rentals’ earnings. The lowest sales estimate is $1.82 billion and the highest is $1.92 billion. United Rentals reported sales of $1.52 billion in the same quarter last year, which indicates a positive year over year growth rate of 23.7%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, January 24th.
According to Zacks, analysts expect that United Rentals will report full year sales of $1.88 billion for the current fiscal year, with estimates ranging from $6.54 billion to $6.64 billion. For the next financial year, analysts expect that the firm will report sales of $7.54 billion per share, with estimates ranging from $7.30 billion to $7.71 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover United Rentals.
Several research firms have recently commented on URI. Jefferies Group reissued a “buy” rating and issued a $210.00 target price on shares of United Rentals in a research note on Tuesday, January 16th. Royal Bank of Canada reissued a “buy” rating and issued a $194.00 target price on shares of United Rentals in a research note on Thursday, January 11th. Buckingham Research reissued a “neutral” rating and issued a $175.00 target price (up from $154.00) on shares of United Rentals in a research note on Tuesday, January 9th. Zacks Investment Research cut United Rentals from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, Bank of America raised United Rentals to a “buy” rating and lifted their target price for the company from $165.00 to $195.00 in a research note on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $162.89.
United Rentals declared that its board has initiated a stock buyback program on Wednesday, October 18th that authorizes the company to repurchase $373.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Donald C. Roof sold 4,500 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $143.95, for a total value of $647,775.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Kneeland sold 25,421 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $162.76, for a total value of $4,137,521.96. Following the completion of the transaction, the insider now owns 245,286 shares in the company, valued at $39,922,749.36. The disclosure for this sale can be found here. Insiders sold a total of 61,760 shares of company stock worth $9,531,511 over the last 90 days. 1.20% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Prudential Financial Inc. boosted its position in shares of United Rentals by 3.1% in the 3rd quarter. Prudential Financial Inc. now owns 440,136 shares of the construction company’s stock worth $61,065,000 after purchasing an additional 13,254 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of United Rentals in the 3rd quarter worth $274,000. Fulton Bank N.A. boosted its position in shares of United Rentals by 8.2% in the 4th quarter. Fulton Bank N.A. now owns 12,240 shares of the construction company’s stock worth $2,105,000 after purchasing an additional 932 shares during the last quarter. 361 Capital LLC boosted its position in shares of United Rentals by 22.8% in the 2nd quarter. 361 Capital LLC now owns 90,048 shares of the construction company’s stock worth $10,149,000 after purchasing an additional 16,737 shares during the last quarter. Finally, Systematic Financial Management LP bought a new position in United Rentals during the third quarter worth about $13,807,000. Institutional investors and hedge funds own 91.48% 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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