United Rentals (NYSE:URI) Announces Quarterly Earnings Results

United Rentals (NYSE:URI) issued its quarterly earnings results on Wednesday. The construction company reported $10.70 EPS for the quarter, topping the consensus estimate of $10.48 by $0.22, Briefing.com reports. United Rentals had a net margin of 17.31% and a return on equity of 36.44%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the business earned $9.88 earnings per share. United Rentals’s revenue for the quarter was up 6.2% compared to the same quarter last year. United Rentals updated its FY 2024 guidance to EPS.

United Rentals Price Performance

United Rentals stock traded up $38.44 during mid-day trading on Thursday, hitting $754.26. 1,203,832 shares of the company were exchanged, compared to its average volume of 584,033. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The business has a fifty day moving average of $662.04 and a 200 day moving average of $659.91. United Rentals has a 1-year low of $387.01 and a 1-year high of $768.62. The company has a market capitalization of $50.23 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.44 and a beta of 1.71.

United Rentals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $6.52 annualized dividend and a yield of 0.86%. United Rentals’s dividend payout ratio is currently 17.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on URI shares. Raymond James started coverage on United Rentals in a research report on Friday, June 28th. They set an “outperform” rating and a $750.00 target price for the company. Oppenheimer reissued a “market perform” rating on shares of United Rentals in a research report on Monday, April 29th. Stifel Nicolaus increased their price objective on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Truist Financial reduced their price objective on United Rentals from $796.00 to $785.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Finally, The Goldman Sachs Group increased their price objective on United Rentals from $718.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $637.67.

Insiders Place Their Bets

In other news, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the sale, the chief operating officer now directly owns 8,052 shares in the company, valued at $5,431,557.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Matthew John Flannery sold 8,379 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $699.63, for a total value of $5,862,199.77. Following the completion of the sale, the chief executive officer now directly owns 103,400 shares in the company, valued at $72,341,742. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Michael D. Durand sold 559 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $674.56, for a total value of $377,079.04. Following the completion of the sale, the chief operating officer now owns 8,052 shares of the company’s stock, valued at $5,431,557.12. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

About United Rentals

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.