United Rentals, Inc. (NYSE:URI) Expected to Post Quarterly Sales of $2.68 Billion

Equities analysts predict that United Rentals, Inc. (NYSE:URI – Get Rating) will announce sales of $2.68 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for United Rentals’ earnings. The lowest sales estimate is $2.59 billion and the highest is $2.76 billion. United Rentals posted sales of $2.29 billion during the same quarter last year, which would indicate a positive year over year growth rate of 17%. The business is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that United Rentals will report full-year sales of $11.31 billion for the current year, with estimates ranging from $11.12 billion to $11.42 billion. For the next year, analysts forecast that the company will post sales of $12.08 billion, with estimates ranging from $11.40 billion to $12.64 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for United Rentals.

United Rentals (NYSE:URI – Get Rating) last posted its earnings results on Wednesday, April 27th. The construction company reported $5.73 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.45. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.44 billion. United Rentals had a net margin of 15.22% and a return on equity of 31.29%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.45 EPS.

A number of brokerages have commented on URI. Zacks Investment Research lowered shares of United Rentals from a “hold” rating to a “sell” rating and set a $383.00 price objective on the stock. in a report on Wednesday, March 30th. Wells Fargo & Company began coverage on shares of United Rentals in a report on Friday, March 11th. They issued an “overweight” rating and a $425.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of United Rentals from $317.00 to $324.00 in a report on Thursday, January 27th. StockNews.com upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Finally, UBS Group cut their target price on shares of United Rentals to $400.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, United Rentals presently has an average rating of “Hold” and an average target price of $384.42.

NYSE:URI opened at $275.82 on Thursday. United Rentals has a twelve month low of $262.76 and a twelve month high of $414.99. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $19.75 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.53 and a beta of 1.80. The firm’s fifty day simple moving average is $319.66 and its 200 day simple moving average is $329.45.

United Rentals announced that its Board of Directors has initiated a stock repurchase program on Wednesday, January 26th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

In other United Rentals news, COO Dale A. Asplund sold 6,575 shares of United Rentals stock in a transaction on Friday, April 29th. The stock was sold at an average price of $318.58, for a total transaction of $2,094,663.50. Following the sale, the chief operating officer now owns 26,666 shares of the company’s stock, valued at approximately $8,495,254.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig Adam Pintoff sold 1,652 shares of United Rentals stock in a transaction on Monday, March 14th. The shares were sold at an average price of $323.41, for a total value of $534,273.32. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Riverview Trust Co bought a new stake in shares of United Rentals in the 1st quarter worth $25,000. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of United Rentals by 42.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 90 shares of the construction company’s stock worth $32,000 after acquiring an additional 27 shares during the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in shares of United Rentals in the 1st quarter worth $32,000. HBC Financial Services PLLC acquired a new position in shares of United Rentals in the 1st quarter worth $32,000. Finally, Psagot Value Holdings Ltd. Israel acquired a new position in shares of United Rentals in the 1st quarter worth $32,000. 89.70% of the stock is currently owned by hedge funds and other institutional investors.

About United Rentals (Get Rating)

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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