Brokers Offer Predictions for United Rentals FY2024 Earnings

United Rentals, Inc. (NYSE:URI) – Equities researchers at Zacks Research dropped their FY2024 EPS estimates for shares of United Rentals in a research note issued on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the construction company will post earnings per share of $43.32 for the year, down from their prior estimate of $44.33. The consensus estimate for United Rentals’ current full-year earnings is $43.66 per share. Zacks Research also issued estimates for United Rentals’ Q4 2024 earnings at $11.67 EPS, Q1 2025 earnings at $9.27 EPS, Q2 2025 earnings at $11.30 EPS, Q3 2025 earnings at $13.00 EPS, Q4 2025 earnings at $12.53 EPS, FY2025 earnings at $46.09 EPS, Q1 2026 earnings at $10.48 EPS, Q2 2026 earnings at $12.38 EPS, Q3 2026 earnings at $13.18 EPS and FY2026 earnings at $49.43 EPS.

United Rentals (NYSE:URI) last posted its earnings results on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business posted $11.73 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year.

Other analysts have also issued reports about the stock. Evercore ISI raised their price target on shares of United Rentals from $774.00 to $795.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. raised their price target on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Bank of America raised their price target on shares of United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays raised their price target on shares of United Rentals from $400.00 to $565.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Truist Financial raised their price target on shares of United Rentals from $954.00 to $955.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, United Rentals presently has an average rating of “Hold” and an average target price of $742.50.

United Rentals Stock Performance

NYSE:URI opened at $835.36 on Friday. United Rentals has a 1 year low of $454.71 and a 1 year high of $896.98. The firm’s fifty day simple moving average is $807.10 and its 200 day simple moving average is $725.83. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $54.82 billion, a PE ratio of 21.82, a PEG ratio of 2.01 and a beta of 1.68.

Institutional Investors Weigh In On United Rentals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in United Rentals by 3.7% in the 3rd quarter. FMR LLC now owns 2,416,568 shares of the construction company’s stock valued at $1,956,768,000 after acquiring an additional 85,325 shares in the last quarter. International Assets Investment Management LLC increased its position in United Rentals by 82,462.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,606,661 shares of the construction company’s stock valued at $1,300,962,000 after acquiring an additional 1,604,715 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in United Rentals by 10.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 704,145 shares of the construction company’s stock valued at $570,167,000 after acquiring an additional 66,957 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in United Rentals by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 637,188 shares of the construction company’s stock valued at $412,089,000 after acquiring an additional 27,708 shares in the last quarter. Finally, Capital International Investors acquired a new stake in shares of United Rentals during the 1st quarter worth approximately $332,349,000. Institutional investors and hedge funds own 96.26% of the company’s stock.

Insider Activity at United Rentals

In other United Rentals news, SVP Anthony S. Leopold sold 900 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total value of $740,916.00. Following the completion of the sale, the senior vice president now owns 2,044 shares in the company, valued at approximately $1,682,702.56. This trade represents a 30.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s dividend payout ratio is currently 17.03%.

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.