Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Shares Up 9.2% on Earnings Beat

Key Points

• Sunbelt Rentals shares jumped 9.2% after the company reported quarterly EPS of $1.18, beating consensus by $0.19, while revenue rose 11.2% year over year to $3.12 billion.
• The company paid a quarterly dividend of $0.75, equivalent to a 4.0% annualized yield, though its payout ratio remains unusually high at 405.41%.
• Analyst sentiment is mixed, with an average rating of “Hold” and a consensus price target of $83.67; targets range from $71 to $96.

Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report)'s share price was up 9.2% on Wednesday following a better than expected earnings announcement. The company traded as high as $76.78 and last traded at $75.6710. Approximately 3,421,891 shares changed hands during trading, a decline of 17% from the average session volume of 4,140,687 shares. The stock had previously closed at $69.32.

The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.19. The firm had revenue of $3.12 billion for the quarter. The business's revenue for the quarter was up 11.2% compared to the same quarter last year.

Sunbelt Rentals Holdings, Inc. Common Stock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, July 10th. Sunbelt Rentals Holdings, Inc. Common Stock's dividend payout ratio is presently 405.41%.

Wall Street Analysts Forecast Growth

SUNB has been the topic of a number of research analyst reports. Weiss Ratings cut Sunbelt Rentals Holdings, Inc. Common Stock from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, September 1st. Wells Fargo & Company assumed coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Monday, August 17th. They set an "overweight" rating and a $96.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $74.00 to $71.00 and set an "underweight" rating on the stock in a report on Wednesday, September 2nd. Barclays raised their target price on shares of Sunbelt Rentals Holdings, Inc. Common Stock from $82.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, June 22nd. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $96.00 price target on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Tuesday, July 21st. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $83.67.

Insider Transactions at Sunbelt Rentals Holdings, Inc. Common Stock

In other Sunbelt Rentals Holdings, Inc. Common Stock news, COO John Washburn sold 3,351 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $70.00, for a total value of $234,570.00. Following the transaction, the chief operating officer directly owned 72,394 shares of the company's stock, valued at $5,067,580. This represents a 4.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunbelt Rentals Holdings, Inc. Common Stock

A number of institutional investors have recently modified their holdings of SUNB. Anchor Capital Advisors LLC bought a new stake in Sunbelt Rentals Holdings, Inc. Common Stock in the 2nd quarter valued at about $44,923,000. Raiffeisen Bank International AG acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at approximately $2,378,000. denkapparat Operations GmbH acquired a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at approximately $1,114,000. Allianz Asset Management GmbH bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at approximately $22,082,000. Finally, Broad Run Investment Management LLC bought a new stake in shares of Sunbelt Rentals Holdings, Inc. Common Stock in the second quarter valued at approximately $51,353,000.

Sunbelt Rentals Holdings, Inc. Common Stock Price Performance

The company has a market capitalization of $30.88 billion and a price-to-earnings ratio of 102.09. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.83 and a current ratio of 0.90. The business has a 50-day moving average of $74.68.

About Sunbelt Rentals Holdings, Inc. Common Stock

Sunbelt Rentals Holdings, Inc is a major equipment rental company that provides a broad range of rental solutions to construction, industrial, municipal and specialty markets. The company's business centers on short- and long-term rental of equipment used for earthmoving, aerial access, material handling, power generation, climate control, pumps and general tools, supporting customers who need flexible access to capital-intensive assets without the expense of ownership.

In addition to physical equipment, Sunbelt Rentals offers complementary services designed to keep projects running efficiently.

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