United Rentals, Inc. (NYSE:URI) Expected to Post Quarterly Sales of $1.71 Billion
Analysts predict that United Rentals, Inc. (NYSE:URI) will report sales of $1.71 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for United Rentals’ earnings, with the lowest sales estimate coming in at $1.69 billion and the highest estimate coming in at $1.74 billion. United Rentals posted sales of $1.51 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.2%. The company is expected to issue its next quarterly earnings report on Wednesday, October 18th.
According to Zacks, 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 financial year, analysts forecast that the company will report sales of $6.80 billion per share, with estimates ranging from $6.55 billion to $7.13 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for United Rentals.
United Rentals (NYSE:URI) last released its earnings results on Wednesday, July 19th. The construction company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.09. United Rentals had a return on equity of 46.01% and a net margin of 9.86%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company posted $2.06 EPS. United Rentals’s revenue for the quarter was up 12.4% on a year-over-year basis.
Several research firms recently commented on URI. Royal Bank Of Canada reiterated a “hold” rating and issued a $130.00 price target on shares of United Rentals in a research report on Wednesday, April 12th. ValuEngine lowered United Rentals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 20th. Stifel Nicolaus reiterated a “hold” rating on shares of United Rentals in a research report on Friday, July 21st. Axiom Securities reiterated a “sell” rating on shares of United Rentals in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $150.00 price target on shares of United Rentals in a research report on Thursday, April 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $124.50.
In other news, insider Michael Kneeland sold 30,000 shares of United Rentals stock in a transaction that occurred on Friday, July 21st. The shares were 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 accessible through this hyperlink. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Commonwealth Bank of Australia increased its stake in United Rentals by 4.5% in the second quarter. Commonwealth Bank of Australia now owns 15,712 shares of the construction company’s stock valued at $1,770,000 after buying an additional 681 shares in the last quarter. Private Advisor Group LLC increased its stake in United Rentals by 10.1% in the second quarter. Private Advisor Group LLC now owns 10,093 shares of the construction company’s stock valued at $1,146,000 after buying an additional 928 shares in the last quarter. Miller Investment Management LP increased its stake in United Rentals by 7.5% in the second quarter. Miller Investment Management LP now owns 22,914 shares of the construction company’s stock valued at $2,583,000 after buying an additional 1,607 shares in the last quarter. Schroder Investment Management Group increased its stake in United Rentals by 2,817.7% in the second quarter. Schroder Investment Management Group now owns 19,315 shares of the construction company’s stock valued at $2,119,000 after buying an additional 18,653 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in United Rentals by 2.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,178,609 shares of the construction company’s stock valued at $132,841,000 after buying an additional 23,895 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.
United Rentals (NYSE URI) traded down 1.1350% during midday trading on Thursday, hitting $114.0012. The stock had a trading volume of 314,874 shares. The stock’s 50-day moving average is $114.60 and its 200-day moving average is $117.39. The company has a market capitalization of $9.64 billion, a PE ratio of 16.5603 and a beta of 2.43. United Rentals has a 1-year low of $70.58 and a 1-year high of $134.28.
ILLEGAL ACTIVITY NOTICE: This article was originally published by Daily Political and is the property of of Daily Political. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/08/10/united-rentals-inc-nyseuri-expected-to-post-quarterly-sales-of-1-71-billion.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for United Rentals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Rentals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.