Zacks Research Equities Analysts Raise Earnings Estimates for United Rentals, Inc. (NYSE:URI)

United Rentals, Inc. (NYSE:URI) – Zacks Research lifted their FY2024 EPS estimates for United Rentals in a research note issued to investors on Thursday, May 2nd. Zacks Research analyst R. Department now forecasts that the construction company will post earnings per share of $43.97 for the year, up from their prior forecast of $43.07. The consensus estimate for United Rentals’ current full-year earnings is $43.61 per share. Zacks Research also issued estimates for United Rentals’ Q4 2024 earnings at $11.95 EPS, Q1 2025 earnings at $9.57 EPS, Q2 2025 earnings at $11.19 EPS, Q3 2025 earnings at $12.66 EPS, Q4 2025 earnings at $11.97 EPS, FY2025 earnings at $45.40 EPS, Q1 2026 earnings at $10.78 EPS and FY2026 earnings at $48.54 EPS.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, April 24th. The construction company reported $9.15 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.80. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter last year, the firm earned $7.95 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis.

Several other brokerages have also recently issued reports on URI. Wells Fargo & Company increased their price target on shares of United Rentals from $630.00 to $710.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Morgan Stanley started coverage on shares of United Rentals in a report on Monday, January 8th. They issued an “equal weight” rating and a $500.00 target price for the company. The Goldman Sachs Group raised their price target on United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial lifted their price objective on shares of United Rentals from $793.00 to $796.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Finally, Evercore ISI upped their price target on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, United Rentals currently has an average rating of “Hold” and a consensus price target of $600.79.

United Rentals Price Performance

URI stock opened at $666.66 on Monday. The business’s fifty day moving average price is $683.37 and its 200 day moving average price is $587.50. United Rentals has a 12-month low of $325.15 and a 12-month high of $732.37. The company has a market capitalization of $44.39 billion, a PE ratio of 18.06, a P/E/G ratio of 2.17 and a beta of 1.82. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39.

Hedge Funds Weigh In On United Rentals

A number of large investors have recently bought and sold shares of URI. Janney Montgomery Scott LLC raised its position in shares of United Rentals by 6.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 21,568 shares of the construction company’s stock worth $9,588,000 after buying an additional 1,304 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of United Rentals in the 4th quarter worth about $2,351,000. Verdence Capital Advisors LLC acquired a new position in shares of United Rentals in the 4th quarter valued at about $257,000. Graybill Wealth Management LTD. grew its holdings in shares of United Rentals by 0.6% during the 3rd quarter. Graybill Wealth Management LTD. now owns 9,487 shares of the construction company’s stock worth $4,218,000 after purchasing an additional 58 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in United Rentals by 55.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 6,413 shares of the construction company’s stock worth $3,677,000 after purchasing an additional 2,289 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Insiders Place Their Bets

In related news, COO Michael D. Durand sold 559 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total transaction of $377,079.04. Following the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other United Rentals news, COO Michael D. Durand sold 559 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the sale, the chief executive officer now owns 103,400 shares in the company, valued at approximately $72,341,742. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,713 shares of company stock valued at $6,747,384. Corporate insiders own 0.53% of the company’s stock.

United Rentals announced that its board has initiated a stock repurchase program on Wednesday, January 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 3.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s dividend payout ratio (DPR) is presently 17.66%.

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.