United Rentals (NYSE:URI) Announces Earnings Results

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

United Rentals Stock Down 1.1 %

URI traded down $9.19 during midday trading on Thursday, reaching $824.99. The company’s stock had a trading volume of 686,980 shares, compared to its average volume of 543,825. United Rentals has a 1 year low of $387.01 and a 1 year high of $861.74. The stock’s 50-day moving average is $768.65 and its 200-day moving average is $706.59. The firm has a market capitalization of $54.56 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 1.96 and a beta of 1.68. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.39.

United Rentals Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on URI. Bank of America upped their price target on shares of United Rentals from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI raised their target price on United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Robert W. Baird upped their price target on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price objective on United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group boosted their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $728.86.

Insider Activity

In related news, SVP Joli L. Gross sold 360 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total value of $248,400.00. Following the sale, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

About United Rentals

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.