$2.67 billion in sales expected for United Rentals, Inc. (NYSE:URI) this quarter
Wall Street brokerages expect United Rentals, Inc. (NYSE:URI – Get Rating) to post $2.67 billion in revenue for the current quarter, according to Zacks Investment Research. Seven analysts provided United Rentals earnings estimates, with estimates ranging from $2.59 billion to $2.76 billion. United Rentals recorded sales of $2.29 billion in the same quarter last year, which would indicate a positive growth rate of 16.6% year over year. The company is expected to release its next earnings report on Monday, January 1.
According to Zacks, analysts expect United Rentals to report annual sales of $11.31 billion for the current year, with estimates ranging from $11.12 billion to $11.42 billion. For the next fiscal year, analysts expect the company to report sales of $12.08 billion, with estimates ranging from $11.40 billion to $12.64 billion. Zacks Investment Research sales calculations are an average average based on a survey of research analysts who cover United Rentals.
United Rentals (NYSE:URI – Get Rating) last released its quarterly results on Wednesday, April 27. The construction company reported earnings per share of $5.73 for the quarter, beating the Zacks consensus estimate of $5.31 by $0.42. The company posted revenue of $2.52 billion for the quarter, versus analyst estimates of $2.44 billion. United Rentals posted a net margin of 15.22% and a return on equity of 31.29%. United Rentals quarterly revenue increased 22.7% compared to the same quarter last year. During the same period last year, the company posted EPS of $3.45.
A number of analysts have commented on the stock. Zacks Investment Research downgraded United Rentals shares from a “hold” to a “sell” rating and set a price target of $383.00 for the company. in a report from Wednesday, March 30. Goldman Sachs Group raised its price target on United Rentals shares from $415.00 to $425.00 in a report on Thursday, January 27. KeyCorp lowered its price target on United Rentals shares from $455.00 to $420.00 and set an “overweight” rating for the company in a Friday, Jan. 28 research report. Robert W. Baird raised his price target on United Rentals shares from $317.00 to $324.00 in a Thursday, January 27 research report. Finally, Deutsche Bank Aktiengesellschaft cut its price target on United Rentals shares from $421.00 to $396.00 in a Friday, April 29 research report. Two equity research analysts gave the stock a sell rating, five gave the company a hold rating and five gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $382.33.
In other United Rentals news, Executive Vice President Craig Adam Pintoff sold 1,652 United Rentals shares in a trade on Monday, March 14. The shares were sold at an average price of $323.41, for a total value of $534,273.32. The transaction was disclosed in a document filed with the SEC, which is available via this link. Additionally, COO Dale A. Asplund sold 6,575 shares of United Rentals in a trade on Friday, April 29. The shares were sold at an average price of $318.58, for a total transaction of $2,094,663.50. Following completion of the transaction, the COO now owns 26,666 shares of the company, valued at $8,495,254.28. The disclosure of this sale can be found here. 0.53% of the shares are currently held by insiders.
Several institutional investors have recently changed their stake in the company. Advisor Group Holdings Inc. increased its stake in United Rentals shares by 2.3% during the first quarter. Advisor Group Holdings Inc. now owns 22,394 shares of the construction company worth $7,609,000 after acquiring an additional 501 shares during the period. ClariVest Asset Management LLC increased its stake in United Rentals by 3.7% during the first quarter. ClariVest Asset Management LLC now owns 70,856 shares of the construction company worth $25,169,000 after purchasing an additional 2,500 shares last quarter. Clearstead Advisors LLC increased its holdings in United Rentals by 75.0% during the first quarter. Clearstead Advisors LLC now owns 2,123 shares of the construction company worth $754,000 after buying 910 additional shares in the last quarter. Victory Capital Management Inc. increased its stake in United Rentals by 16.7% during the first quarter. Victory Capital Management Inc. now owns 710,833 shares of the construction company worth $251,024,000 after purchasing an additional 101,563 shares last quarter. Finally, SlateStone Wealth LLC increased its stake in United Rentals by 11.8% during the first quarter. SlateStone Wealth LLC now owns 2,946 shares of the construction company worth $1,046,000 after buying 310 additional shares last quarter. Institutional investors and hedge funds own 89.70% of the company’s shares.
Shares of United Rentals opened at $320.51 on Thursday. The company has a market capitalization of $22.95 billion, a PE ratio of 15.04, a P/E/G ratio of 0.64 and a beta of 1.80. United Rentals has a twelve month minimum of $285.59 and a twelve month maximum of $414.99. The company’s 50-day moving average price is $331.38 and its 200-day moving average price is $338.56. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt ratio of 1.40.
United Rentals announced that its board of directors launched a stock repurchase program on Wednesday, Jan. 26 that sees the company repurchase $1.00 billion in stock. This repurchase authorization allows the construction company to repurchase up to 4.5% of its shares through purchases on the open market. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
United Rentals Company Profile (Get a rating)
United Rentals, Inc., through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment, including backhoes, skid steer loaders, forklifts, earthmoving equipment and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment including pressure washers, water pumps and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities.
Get a Free Copy of Zacks’ Research Report on United Rentals (URI)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
Receive daily news and reviews for United Rentals – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for United Rentals and related companies with MarketBeat.com’s free daily email newsletter.