Brokerages Expect United Rentals, Inc. (URI) Will Post Quarterly Sales of $1.71 Billion
Equities analysts predict that United Rentals, Inc. (NYSE:URI) will post $1.71 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for United Rentals’ earnings, with estimates ranging from $1.69 billion to $1.74 billion. United Rentals posted sales of $1.51 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 13.2%. The firm is scheduled to announce its next earnings results on Wednesday, October 18th.
On average, analysts expect that United Rentals will report full-year sales of $1.71 billion for the current year, with estimates ranging from $6.33 billion to $6.46 billion. For the next year, analysts forecast that the firm will report sales of $6.80 billion per share, with estimates ranging from $6.55 billion to $7.13 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover United Rentals.
United Rentals (NYSE:URI) last released its quarterly earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.09. United Rentals had a net margin of 9.86% and a return on equity of 46.01%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the company earned $2.06 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis.
Several analysts have recently issued reports on the company. UBS AG restated a “neutral” rating and set a $125.00 price objective on shares of United Rentals in a research report on Sunday, August 20th. Jefferies Group LLC restated a “buy” rating on shares of United Rentals in a research report on Friday, August 18th. Stifel Nicolaus upgraded United Rentals from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a research report on Friday, August 18th. BidaskClub downgraded United Rentals from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research upgraded United Rentals from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. United Rentals presently has an average rating of “Buy” and an average price target of $126.97.
In related news, insider Michael Kneeland sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $120.77, for a total transaction of $3,623,100.00. Following the completion of the sale, the insider now owns 302,292 shares of the company’s stock, valued at $36,507,804.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
A number of large investors have recently made changes to their positions in URI. First Manhattan Co. boosted its stake in shares of United Rentals by 4,204.3% in the second quarter. First Manhattan Co. now owns 990 shares of the construction company’s stock worth $111,000 after buying an additional 967 shares during the period. Whittier Trust Co. boosted its stake in shares of United Rentals by 7.2% in the first quarter. Whittier Trust Co. now owns 894 shares of the construction company’s stock worth $112,000 after buying an additional 60 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of United Rentals during the first quarter worth approximately $127,000. Americafirst Capital Management LLC purchased a new stake in shares of United Rentals during the second quarter worth approximately $151,000. Finally, Huntington National Bank boosted its stake in shares of United Rentals by 14.2% in the second quarter. Huntington National Bank now owns 1,442 shares of the construction company’s stock worth $163,000 after buying an additional 179 shares during the period. 93.71% of the stock is owned by hedge funds and other institutional investors.
Shares of United Rentals (NYSE:URI) opened at 107.26 on Monday. United Rentals has a one year low of $70.58 and a one year high of $134.28. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 15.58 and a beta of 2.43. The stock’s 50 day moving average is $115.15 and its 200-day moving average is $116.32.
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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