United Rentals (NYSE:URI) Announces Quarterly Earnings Results

United Rentals (NYSE:URI) posted its quarterly earnings data 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. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.95 EPS. United Rentals updated its FY 2024 guidance to EPS.

United Rentals Price Performance

Shares of NYSE:URI opened at $690.77 on Friday. The firm’s 50 day simple moving average is $681.18 and its two-hundred day simple moving average is $578.63. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.75. The company has a market capitalization of $46.00 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.40 and a beta of 1.84. United Rentals has a 1-year low of $325.15 and a 1-year high of $732.37.

United Rentals Announces Dividend

The company 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, May 7th. United Rentals’s dividend payout ratio is 17.66%.

United Rentals declared that its board has authorized a stock buyback program on Wednesday, January 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on United Rentals from $322.00 to $559.00 and gave the company an “underperform” rating in a research note on Friday, January 26th. Barclays lifted their target price on shares of United Rentals from $325.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. Morgan Stanley initiated coverage on shares of United Rentals in a research report on Monday, January 8th. They set an “equal weight” rating and a $500.00 price target for the company. BNP Paribas reaffirmed an “underperform” rating and set a $485.00 price objective on shares of United Rentals in a research note on Friday, January 5th. Finally, Evercore ISI lifted their price objective on United Rentals from $575.00 to $740.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $600.57.

Insider Transactions at United Rentals

In other United Rentals news, CFO William E. Grace sold 775 shares of the stock in a transaction 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 owns 6,323 shares in the company, valued at approximately $4,145,485.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% 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.