United Rentals (NYSE:URI) Releases Earnings Results, Misses Estimates By $0.69 EPS

United Rentals (NYSE:URI) issued its quarterly earnings data on Wednesday. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69), Briefing.com reports. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.01 billion. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $11.73 earnings per share. United Rentals updated its FY 2024 guidance to EPS.

United Rentals Price Performance

Shares of URI stock opened at $824.99 on Friday. United Rentals has a 52-week low of $387.01 and a 52-week high of $861.74. The stock has a market cap of $54.56 billion, a PE ratio of 21.78, a PEG ratio of 1.96 and a beta of 1.68. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.76 and a current ratio of 0.81. The firm’s 50 day moving average price is $770.73 and its two-hundred day moving average price is $707.41.

United Rentals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Wednesday, November 13th. United Rentals’s dividend payout ratio is currently 17.21%.

Analysts Set New Price Targets

URI has been the subject of several research reports. Bank of America increased their target price on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday. Raymond James began coverage on shares of United Rentals in a research report on Friday, June 28th. They issued an “outperform” rating and a $750.00 price target for the company. The Goldman Sachs Group increased their price target on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Truist Financial increased their price target on shares of United Rentals from $873.00 to $954.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup increased their price target on shares of United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $728.86.

Insider Buying and Selling at United Rentals

In other United Rentals news, SVP Joli L. Gross sold 360 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the transaction, the senior vice president now directly owns 4,090 shares of the company’s stock, valued at approximately $2,822,100. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

United Rentals Company Profile

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 includes 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 comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.