United Rentals (NYSE:URI – Get Free Report) announced 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. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the business earned $11.73 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. United Rentals updated its FY 2024 guidance to EPS.
United Rentals Stock Performance
NYSE URI opened at $824.99 on Friday. The company’s 50 day moving average is $770.73 and its 200-day moving average is $707.41. United Rentals has a 12-month low of $387.01 and a 12-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. The firm has a market cap of $54.56 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 1.96 and a beta of 1.68.
United Rentals Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, November 13th. United Rentals’s dividend payout ratio (DPR) is currently 17.21%.
Insider Activity
Analyst Ratings Changes
Several brokerages have issued reports on URI. Truist Financial lifted their price target on shares of United Rentals from $873.00 to $954.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI lifted 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. JPMorgan Chase & Co. lifted their target price on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Citigroup raised their target price on shares of United Rentals from $860.00 to $930.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird boosted their price target on United Rentals from $565.00 to $650.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, United Rentals currently has a consensus rating of “Hold” and an average price target of $728.86.
Read Our Latest Research Report on URI
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.
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