United Rentals (NYSE:URI) Announces Earnings Results

United Rentals (NYSE:URI - Get Free Report) posted its quarterly earnings results on Wednesday. The construction company reported $9.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.35 by $0.80, Briefing.com reports. United Rentals had a net margin of 16.91% and a return on equity of 36.80%. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same period last year, the firm posted $7.95 EPS. United Rentals's revenue for the quarter was up 6.1% compared to the same quarter last year. United Rentals updated its FY 2024 guidance to EPS.

United Rentals Price Performance

URI stock opened at $655.07 on Thursday. The company has a market capitalization of $44.00 billion, a P/E ratio of 18.53, a PEG ratio of 2.29 and a beta of 1.84. United Rentals has a twelve month low of $325.15 and a twelve month high of $732.37. The business has a 50 day simple moving average of $679.77 and a 200-day simple moving average of $576.07. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.00%. United Rentals's dividend payout ratio (DPR) is 18.44%.

Analysts Set New Price Targets

URI has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of United Rentals from $630.00 to $710.00 and gave the stock an "overweight" rating in a research note on Friday, January 26th. Evercore ISI lifted their price target on United Rentals from $575.00 to $740.00 and gave the stock an "outperform" rating in a report on Tuesday, February 20th. Robert W. Baird boosted their price objective on shares of United Rentals from $322.00 to $559.00 and gave the company an "underperform" rating in a report on Friday, January 26th. BNP Paribas restated an "underperform" rating and issued a $485.00 price objective on shares of United Rentals in a report on Friday, January 5th. Finally, 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 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $589.21.

Insider Activity

In other news, CFO William E. Grace sold 775 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $655.62, for a total value of $508,105.50. Following the completion of the sale, the chief financial officer now directly owns 6,323 shares of the company's stock, valued at $4,145,485.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.53% of the company's stock.

United Rentals announced that its board has authorized a stock buyback plan on Wednesday, January 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.