United Rentals (URI) Set to Announce Quarterly Earnings on Wednesday

United Rentals (NYSE:URI) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $8.39 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

United Rentals (NYSE:URI) last issued its quarterly earnings data on Wednesday, January 24th. The construction company reported $11.26 EPS for the quarter, topping the consensus estimate of $10.85 by $0.41. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.63 billion. United Rentals had a return on equity of 36.80% and a net margin of 16.91%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $9.74 EPS. On average, analysts expect United Rentals to post $43 EPS for the current fiscal year and $46 EPS for the next fiscal year.

United Rentals Stock Performance

Shares of United Rentals stock opened at $628.34 on Monday. The company has a market capitalization of $42.21 billion, a PE ratio of 17.77, a PEG ratio of 2.18 and a beta of 1.84. United Rentals has a 12 month low of $325.15 and a 12 month high of $732.37. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $679.93 and its 200 day simple moving average is $572.43.

United Rentals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a $1.63 dividend. This is a boost from United Rentals’s previous quarterly dividend of $1.48. The ex-dividend date was Tuesday, February 13th. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. United Rentals’s dividend payout ratio (DPR) is presently 18.44%.

United Rentals declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of United Rentals stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $655.62, for a total transaction of $508,105.50. Following the transaction, the chief financial officer now owns 6,323 shares of the company’s stock, valued at approximately $4,145,485.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On United Rentals

Large investors have recently modified their holdings of the stock. Eagle Bay Advisors LLC purchased a new position in United Rentals in the 2nd quarter valued at approximately $27,000. MUFG Americas Holdings Corp grew its position in shares of United Rentals by 1,900.0% during the 3rd 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 in the last quarter. Quarry LP lifted its holdings in shares of United Rentals by 257.7% during the 1st quarter. Quarry LP now owns 93 shares of the construction company’s stock worth $37,000 after acquiring an additional 67 shares during the last quarter. HBC Financial Services PLLC lifted its holdings in shares of United Rentals by 47.6% during the 2nd quarter. HBC Financial Services PLLC now owns 155 shares of the construction company’s stock worth $38,000 after acquiring an additional 50 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of United Rentals by 202.5% during the 1st quarter. Covestor Ltd now owns 121 shares of the construction company’s stock worth $43,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on URI shares. Wells Fargo & Company lifted their price target on United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Morgan Stanley assumed coverage on United Rentals in a report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price target for the company. Barclays boosted their price objective on United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. Robert W. Baird boosted their price objective on United Rentals from $322.00 to $559.00 and gave the stock an “underperform” rating in a report on Friday, January 26th. Finally, Truist Financial assumed coverage on United Rentals in a report on Thursday, March 14th. They set a “buy” rating and a $793.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $589.21.

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.