United Rentals (NYSE:URI) Releases Quarterly Earnings Results, Misses Expectations By $0.77 EPS

United Rentals (NYSE:URI) posted its earnings results on Wednesday. The construction company reported $11.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.86 by ($0.77), FiscalAI reports. United Rentals had a net margin of 15.83% and a return on equity of 31.30%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.24 billion.

United Rentals Stock Performance

Shares of NYSE URI traded down $4.41 during mid-day trading on Wednesday, reaching $903.04. 607,410 shares of the company were exchanged, compared to its average volume of 602,162. The company’s 50-day simple moving average is $847.51 and its 200-day simple moving average is $888.11. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $57.46 billion, a P/E ratio of 23.23, a P/E/G ratio of 1.90 and a beta of 1.69. United Rentals has a twelve month low of $525.91 and a twelve month high of $1,021.47.

Analysts Set New Price Targets

Several brokerages have recently issued reports on URI. UBS Group raised shares of United Rentals from a “neutral” rating to a “buy” rating and set a $1,025.00 target price on the stock in a research note on Sunday, January 4th. Barclays dropped their target price on shares of United Rentals from $620.00 to $600.00 and set an “underweight” rating for the company in a research report on Monday, October 20th. KeyCorp reiterated an “overweight” rating on shares of United Rentals in a report on Wednesday, December 3rd. Royal Bank Of Canada set a $1,123.00 target price on United Rentals in a research report on Friday, October 24th. Finally, Wells Fargo & Company boosted their price objective on shares of United Rentals from $995.00 to $1,071.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $970.76.

Hedge Funds Weigh In On United Rentals

Several institutional investors and hedge funds have recently modified their holdings of the business. Wexford Capital LP bought a new stake in shares of United Rentals in the 3rd quarter worth approximately $303,000. Brown Brothers Harriman & Co. boosted its stake in United Rentals by 130.9% during the third quarter. Brown Brothers Harriman & Co. now owns 314 shares of the construction company’s stock worth $300,000 after acquiring an additional 178 shares in the last quarter. Seven Mile Advisory purchased a new stake in United Rentals in the third quarter worth about $281,000. Voleon Capital Management LP bought a new position in shares of United Rentals during the second quarter valued at approximately $379,000. Finally, ICONIQ Capital LLC purchased a new position in shares of United Rentals during the second quarter valued at approximately $398,000. 96.26% of the stock is currently owned by institutional investors and hedge funds.

United Rentals Company Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.