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

United Rentals Price Performance

United Rentals stock opened at $824.99 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.76. The company has a market capitalization of $54.56 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 1.96 and a beta of 1.68. United Rentals has a one year low of $387.01 and a one year high of $861.74. The business has a 50 day simple moving average of $770.73 and a 200 day simple moving average of $707.41.

United Rentals Dividend Announcement

The business also recently announced 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 is Wednesday, November 13th. This represents a $6.52 annualized dividend and a dividend yield of 0.79%. United Rentals’s dividend payout ratio (DPR) is presently 17.21%.

Insider Buying and Selling

In related news, SVP Joli L. Gross sold 360 shares of the firm’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 transaction of $248,400.00. Following the completion of the transaction, the senior vice president now owns 4,090 shares in the company, valued at $2,822,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on URI. JPMorgan Chase & Co. raised their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. The Goldman Sachs Group raised their target price on United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. Truist Financial raised their target price on United Rentals from $873.00 to $954.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup raised their target price on United Rentals from $860.00 to $930.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Raymond James began coverage on United Rentals in a report on Friday, June 28th. They issued an “outperform” rating and a $750.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $728.86.

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.