United Rentals (NYSE:URI) Announces Quarterly Earnings Results, Beats Expectations By $1.58 EPS

Key Points

• United Rentals beat quarterly expectations: The company reported adjusted EPS of $15.55, exceeding the $13.97 consensus by $1.58, while revenue reached $4.89 billion versus the $4.71 billion estimate.
• Shares rose 2.1%: URI traded around $1,065.96 following the results, with a market capitalization of approximately $66.35 billion.
• Analysts remain broadly positive: Fifteen analysts rate the stock a Buy, two rate it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $1,258.69.

United Rentals (NYSE:URI - Get Free Report) issued its quarterly earnings data on Wednesday. The construction company reported $15.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $13.97 by $1.58, FiscalAI reports. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.71 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%.

United Rentals Stock Up 2.1%

URI stock traded up $22.09 during midday trading on Wednesday, hitting $1,065.96. The company's stock had a trading volume of 737,159 shares, compared to its average volume of 561,993. The firm has a 50-day simple moving average of $1,045.27 and a 200-day simple moving average of $1,015.84. The firm has a market capitalization of $66.35 billion, a P/E ratio of 25.60, a PEG ratio of 1.49 and a beta of 1.83. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 1.38. United Rentals has a 52-week low of $701.59 and a 52-week high of $1,179.18.

Insider Buying and Selling at United Rentals

In other news, EVP William Grace sold 1,500 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

URI has been the topic of a number of research analyst reports. Truist Financial reduced their price target on shares of United Rentals from $1,466.00 to $1,395.00 and set a "buy" rating on the stock in a research note on Monday, October 5th. Wells Fargo & Company increased their price objective on shares of United Rentals from $1,245.00 to $1,355.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Morgan Stanley set a $1,335.00 target price on shares of United Rentals and gave the company an "overweight" rating in a report on Friday, July 24th. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,215.00 target price on shares of United Rentals in a research report on Wednesday, October 14th. Finally, Zacks Research lowered United Rentals from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 21st. Fifteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,258.69.

About United Rentals

United Rentals, Inc is an equipment rental company serving construction, industrial, infrastructure, utilities, government and other commercial customers. The company provides access to equipment and related services through a network of rental locations, helping customers manage projects without purchasing and maintaining all of the equipment they need.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, general construction tools, trucks and trailers, and light-duty equipment.

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