United Rentals (URI) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. URI said it had a profit of $2.58 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $2.44. The company posted revenue of $1508.00 million in the period, compared to analysts expectations of $1524.38 million. URI’s revenue was down -2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.57 EPS.
Many Wall Street Analysts have commented on United Rentals. United Rentals was Initiated by Argus to “Buy” on Oct 4, 2016. Deutsche Bank Initiated United Rentals on Sep 7, 2016 to “Hold”, Price Target of the shares are set at $79.United Rentals was Initiated by Macquarie to “Underperform” on Aug 26, 2016.
United Rentals closed down -2.94 points or -3.76% at $75.27 with 26,95,566 shares getting traded on Friday. Post opening the session at $76.39, the shares hit an intraday low of $75.05 and an intraday high of $76.9 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Sep 15, 2016, William B Plummer (EVP & CFO) sold 15,811 shares at $78.74 per share price. According to the SEC, on Aug 29, 2016, Brian Mcauley (director) sold 4,000 shares at $81.09 per share price. On Aug 1, 2016, Lawrence Keith Wimbush (director) sold 3,000 shares at $79.04 per share price, according to the Form-4 filing with the securities and exchange commission.
United Rentals Inc. (United Rentals) is a holding company engaged in the business of equipment rental. The Company conducts its operations through its wholly owned subsidiary United Rentals (North America) Inc. (URNA) and its subsidiaries. It operates in two segments: general rentals and trench safety power and heating ventilating and air conditioning (HVAC) and pump solutions. The general rentals segment consists of around 12 geographic regions including eastern Canada Gulf South Mid-Atlantic Mid-Central Midwest Mountain West Northeast Pacific West South Southeast and Western Canada among others. The trench safety power and HVAC and pump solutions segment includes the rental of specialty construction products and related services. It offers approximately 3300 classes of equipment on an hourly daily weekly or monthly basis to construction and industrial companies manufacturers utilities municipalities homeowners Government entities and other customers.