United Rentals (NYSE:URI) Issues Quarterly Earnings Results

Key Points

• United Rentals reported $11.70 earnings per share (EPS) for the quarter, which missed the consensus estimate of $12.43 by $0.73.
• During mid-day trading, shares of United Rentals declined by 1.3%, reaching a price of $989.61, with a market capitalization of $63.67 billion.
• Several analysts have upgraded their price targets for United Rentals, with JPMorgan Chase raising it to $1,150.00 and Morgan Stanley to $955.00, indicating strong institutional interest in the stock.

United Rentals (NYSE:URI - Get Free Report) released its quarterly earnings results on Wednesday. The construction company reported $11.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.43 by ($0.73), Zacks reports. United Rentals had a return on equity of 32.01% and a net margin of 16.11%.

United Rentals Trading Down 1.3%

Shares of NYSE:URI traded down $12.68 during mid-day trading on Wednesday, hitting $989.61. The company had a trading volume of 559,744 shares, compared to its average volume of 610,365. The firm has a fifty day moving average price of $955.24 and a 200 day moving average price of $804.00. The company has a market capitalization of $63.67 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 2.31 and a beta of 1.73. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.86 and a quick ratio of 0.80. United Rentals has a one year low of $525.91 and a one year high of $1,021.47.

Wall Street Analyst Weigh In

Several research analysts have issued reports on URI shares. Morgan Stanley raised their price target on shares of United Rentals from $702.00 to $955.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Weiss Ratings restated a "hold (c+)" rating on shares of United Rentals in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Argus set a $935.00 price objective on shares of United Rentals in a research note on Tuesday, August 12th. Finally, Baird R W upgraded shares of United Rentals from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $966.47.

Institutional Trading of United Rentals

Several hedge funds have recently bought and sold shares of URI. MUFG Securities EMEA plc acquired a new stake in United Rentals in the 2nd quarter valued at $145,000. Ausdal Financial Partners Inc. acquired a new stake in United Rentals in the 2nd quarter valued at $230,000. Great Valley Advisor Group Inc. grew its position in United Rentals by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company's stock valued at $292,000 after purchasing an additional 11 shares during the period. Voleon Capital Management LP acquired a new stake in United Rentals in the 2nd quarter valued at $379,000. Finally, ICONIQ Capital LLC acquired a new stake in United Rentals in the 2nd quarter valued at $398,000. Institutional investors and hedge funds own 96.26% of the company's stock.

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.

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