United Rentals Inc. (URI) Expected to Earn Q3 2016 Earnings of $2.60 Per Share
United Rentals Inc. (NYSE:URI) – KeyCorp reduced their Q3 2016 earnings per share (EPS) estimates for United Rentals in a note issued to investors on Sunday. KeyCorp analyst J. Box now expects that the brokerage will post earnings of $2.60 per share for the quarter, down from their prior forecast of $2.64. KeyCorp also issued estimates for United Rentals’ Q4 2016 earnings at $2.47 EPS, FY2016 earnings at $8.52 EPS, Q1 2017 earnings at $1.38 EPS, Q2 2017 earnings at $2.01 EPS, Q3 2017 earnings at $2.53 EPS, Q4 2017 earnings at $2.38 EPS and FY2017 earnings at $8.30 EPS.
United Rentals (NYSE:URI) last posted its earnings results on Wednesday, July 20th. The company reported $2.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.24. United Rentals had a return on equity of 50.82% and a net margin of 10.51%. The company earned $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm earned $1.95 earnings per share. The company’s revenue was down .6% on a year-over-year basis.
A number of other research firms have also commented on URI. Deutsche Bank AG started coverage on United Rentals in a research report on Tuesday, September 6th. They issued a “hold” rating and a $79.00 price target for the company. Zacks Investment Research lowered United Rentals from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. OTR Global raised United Rentals from a “mixed” rating to a “positive” rating in a research report on Friday, September 23rd. Royal Bank Of Canada increased their price target on United Rentals from $68.00 to $80.00 and gave the company a “sector perform” rating in a research report on Friday, July 22nd. Finally, Argus started coverage on United Rentals in a research report on Tuesday, October 4th. They issued a “buy” rating and a $90.00 price target for the company. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. United Rentals presently has an average rating of “Hold” and an average target price of $75.74.
United Rentals (NYSE:URI) opened at 80.18 on Wednesday. The company has a 50-day moving average price of $79.34 and a 200-day moving average price of $71.26. United Rentals has a 1-year low of $41.90 and a 1-year high of $84.63. The firm has a market cap of $6.91 billion, a P/E ratio of 12.09 and a beta of 2.61.
Several institutional investors have recently made changes to their positions in URI. Nisa Investment Advisors L.L.C. boosted its position in shares of United Rentals by 2.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 22,700 shares of the company’s stock worth $1,412,000 after buying an additional 500 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of United Rentals during the first quarter worth $286,000. Teachers Advisors Inc. boosted its position in shares of United Rentals by 13.3% in the first quarter. Teachers Advisors Inc. now owns 189,602 shares of the company’s stock worth $11,791,000 after buying an additional 22,289 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of United Rentals by 77.4% in the first quarter. Franklin Resources Inc. now owns 52,652 shares of the company’s stock worth $3,275,000 after buying an additional 22,976 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in shares of United Rentals by 4.3% in the first quarter. BlackRock Group LTD now owns 1,309,454 shares of the company’s stock worth $81,435,000 after buying an additional 54,260 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.
In other United Rentals news, CFO William B. Plummer sold 15,811 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $78.74, for a total value of $1,244,958.14. Following the sale, the chief financial officer now owns 73,209 shares of the company’s stock, valued at approximately $5,764,476.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jessica Graziano sold 877 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $76.34, for a total value of $66,950.18. Following the transaction, the vice president now directly owns 7,127 shares in the company, valued at $544,075.18. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
About United Rentals
United Rentals, Inc is a holding company engaged in the business of equipment rental. The Company conducts its operations through its subsidiary, United Rentals (North America), Inc (URNA) and subsidiaries of URNA. It operates through two segments: general rentals, and trench, power and pump. The general rentals includes the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts, general tools and light equipment, such as pressure washers, water pumps and power tools.
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