United Rentals (NYSE:URI) Releases Quarterly Earnings Results, Misses Expectations By $0.69 EPS

United Rentals (NYSE:URI) released its quarterly earnings results on Wednesday. The construction company reported $11.80 earnings per share for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69), Briefing.com reports. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a net margin of 17.35% and a return on equity of 35.87%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $11.73 EPS. United Rentals updated its FY 2024 guidance to EPS.

United Rentals Stock Down 1.6 %

Shares of NYSE:URI traded down $13.29 on Friday, reaching $811.70. The company had a trading volume of 460,261 shares, compared to its average volume of 543,421. The stock has a market capitalization of $54.05 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.96 and a beta of 1.68. The stock has a 50-day moving average price of $770.73 and a 200 day moving average price of $707.41. United Rentals has a twelve month low of $387.01 and a twelve month high of $861.74. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.39.

United Rentals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s payout ratio is 17.66%.

Wall Street Analyst Weigh In

Several research analysts have commented on URI shares. Evercore ISI raised their target price on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. The Goldman Sachs Group raised their price objective on shares of United Rentals from $790.00 to $905.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Raymond James assumed coverage on shares of United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 target price on the stock. Truist Financial raised their target price on United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Robert W. Baird upped their price target on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $742.50.

Insider Activity

In other news, SVP Joli L. Gross sold 360 shares of United Rentals stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $690.00, for a total value of $248,400.00. Following the transaction, the senior vice president now owns 4,090 shares of the company’s stock, valued at $2,822,100. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

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.