United Rentals (URI) to Release Quarterly Earnings on Wednesday

United Rentals (NYSE:URI - Get Free Report) is set to issue its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $12.49 per share for the quarter. United Rentals has set its FY 2024 guidance at EPS.Parties that wish to register for the company's conference call can do so using this link.

United Rentals (NYSE:URI - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The construction company reported $10.70 earnings per share for the quarter, beating analysts' consensus estimates of $10.48 by $0.22. United Rentals had a return on equity of 35.87% and a net margin of 17.35%. The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.77 billion. During the same period last year, the firm posted $9.88 EPS. The business's revenue was up 6.2% on a year-over-year basis. On average, analysts expect United Rentals to post $44 EPS for the current fiscal year and $48 EPS for the next fiscal year.

United Rentals Price Performance

URI stock traded up $12.38 during midday trading on Wednesday, reaching $846.06. 342,199 shares of the company's stock traded hands, compared to its average volume of 543,211. The company has a 50-day simple moving average of $754.34 and a two-hundred day simple moving average of $701.80. United Rentals has a 1-year low of $387.01 and a 1-year high of $861.74. The company has a market cap of $55.96 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.94 and a beta of 1.68. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $6.52 dividend on an annualized basis and a yield of 0.77%. United Rentals's payout ratio is 17.21%.

Insider Buying and Selling

In related news, SVP Joli L. Gross sold 360 shares of the firm's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $690.00, for a total transaction of $248,400.00. Following the sale, the senior vice president now owns 4,090 shares of the company's stock, valued at approximately $2,822,100. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.49% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Evercore ISI increased their price objective on United Rentals from $774.00 to $795.00 and gave the company an "outperform" rating in a research report on Monday, August 19th. JPMorgan Chase & Co. increased their price objective on United Rentals from $780.00 to $940.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Raymond James began coverage on United Rentals in a research report on Friday, June 28th. They issued an "outperform" rating and a $750.00 price target on the stock. The Goldman Sachs Group raised their price target on United Rentals from $790.00 to $905.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Finally, Truist Financial raised their price target on United Rentals from $873.00 to $954.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, United Rentals currently has a consensus rating of "Hold" and an average target price of $714.92.

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.