United Rentals (NYSE:URI) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

United Rentals (NYSE:URI) posted its quarterly earnings results on Wednesday. The construction company reported $10.70 EPS for the quarter, beating 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 business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the business posted $9.88 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. United Rentals updated its FY 2024 guidance to EPS.

United Rentals Stock Performance

Shares of URI stock traded up $38.44 during trading hours on Thursday, hitting $754.26. The company’s stock had a trading volume of 1,210,221 shares, compared to its average volume of 584,033. The company has a 50 day moving average of $662.04 and a 200 day moving average of $659.91. The stock has a market cap 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. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.39. United Rentals has a 12-month low of $387.01 and a 12-month high of $768.62.

United Rentals Announces Dividend

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

Insider Activity

In other news, CEO Matthew John Flannery sold 8,379 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total value of $5,862,199.77. Following the sale, the chief executive officer now directly owns 103,400 shares of the company’s stock, valued at approximately $72,341,742. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Michael D. Durand sold 559 shares of the business’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 transaction, the chief operating officer now directly owns 8,052 shares in the company, valued at approximately $5,431,557.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew John Flannery sold 8,379 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $699.63, for a total transaction of $5,862,199.77. Following the completion of the transaction, the chief executive officer now owns 103,400 shares of the company’s stock, valued at $72,341,742. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

URI has been the subject of several recent research reports. Stifel Nicolaus boosted their price target on shares of United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a report on Friday, April 26th. JPMorgan Chase & Co. initiated coverage on shares of United Rentals in a report on Friday, June 7th. They issued an “overweight” rating and a $780.00 price target for the company. Truist Financial reduced their price objective on shares of United Rentals from $796.00 to $785.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group boosted their price objective on shares of United Rentals from $718.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Raymond James initiated coverage on shares of United Rentals in a research note on Friday, June 28th. They set an “outperform” rating and a $750.00 price objective for the company. 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $637.67.

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.