KeyCorp Weighs in on United Rentals, Inc.’s Q4 2022 Earnings (NYSE:URI)

United Rentals, Inc. (NYSE:URIGet Rating) – Investment analysts at KeyCorp reduced their Q4 2022 EPS estimates for shares of United Rentals in a research report issued to clients and investors on Monday, November 21st. KeyCorp analyst K. Newman now forecasts that the construction company will earn $9.14 per share for the quarter, down from their prior forecast of $9.39. KeyCorp currently has a “Overweight” rating and a $425.00 target price on the stock. The consensus estimate for United Rentals’ current full-year earnings is $32.50 per share. KeyCorp also issued estimates for United Rentals’ Q1 2023 earnings at $6.33 EPS and Q2 2023 earnings at $7.98 EPS.

Other equities research analysts have also recently issued reports about the stock. Citigroup increased their price objective on shares of United Rentals to $375.00 in a research note on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of United Rentals from $354.00 to $328.00 and set a “hold” rating on the stock in a research note on Thursday, October 13th. StockNews.com cut shares of United Rentals from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. UBS Group increased their price objective on shares of United Rentals from $365.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, November 16th. Finally, Robert W. Baird raised their price target on shares of United Rentals from $318.00 to $365.00 in a research note on Monday, November 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $363.82.

United Rentals Price Performance

Shares of NYSE URI opened at $358.44 on Thursday. The stock has a market cap of $24.84 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.60 and a beta of 1.86. United Rentals has a 52 week low of $230.54 and a 52 week high of $376.94. The company’s 50-day moving average price is $304.44 and its 200 day moving average price is $291.91. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 1.54.

Institutional Trading of United Rentals

Hedge funds have recently made changes to their positions in the company. Psagot Value Holdings Ltd. Israel purchased a new stake in shares of United Rentals during the first quarter valued at approximately $32,000. MUFG Americas Holdings Corp raised its stake in shares of United Rentals by 1,900.0% during the third quarter. MUFG Americas Holdings Corp now owns 100 shares of the construction company’s stock valued at $27,000 after purchasing an additional 95 shares during the period. HBC Financial Services PLLC purchased a new stake in shares of United Rentals during the first quarter valued at approximately $32,000. Trustcore Financial Services LLC raised its stake in shares of United Rentals by 1,237.5% during the third quarter. Trustcore Financial Services LLC now owns 107 shares of the construction company’s stock valued at $29,000 after purchasing an additional 99 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of United Rentals during the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 90.41% of the company’s stock.

Insider Activity at United Rentals

In other United Rentals news, Director Jose B. Alvarez purchased 177 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The shares were purchased at an average price of $344.65 per share, for a total transaction of $61,003.05. Following the completion of the acquisition, the director now owns 10,660 shares of the company’s stock, valued at approximately $3,673,969. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

United Rentals announced that its board has authorized a share repurchase program on Wednesday, October 26th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the construction company to buy up to 5.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

About United Rentals

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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.

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Earnings History and Estimates for United Rentals (NYSE:URI)

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