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United Rentals, Inc. (URI), headquartered in Stamford, Connecticut, is the largest equipment rental company in the world. With a market cap of $46.2 billion, United Rentals provides a comprehensive range of equipment solutions to industrial and construction companies, utilities, municipalities, and homeowners. United Rentals is set to announce its Q4 earnings on Wednesday, Jan. 22.
Ahead of the event, analysts expect URI to report a profit of $11.81 per share, up 4.9% from $11.26 in the year-ago quarter. The company has surpassed Wall Street’s EPS estimates in three of its last four quarterly reports, while missing on another occasion.
For fiscal 2024, analysts expect URI to report EPS of $43.46, up 6.7% from $40.74 in fiscal 2023.
URI stock is up 21.6% over the past year, underperforming the broader S&P 500 Index's ($SPX) 23.7% gains but has outpaced the Industrial Select Sector SPDR Fund's (XLI) 16.4% returns over the same time frame.
On Oct. 23, URI released its Q3 earnings report, and its shares dropped 1.1%. Its adjusted EPS of $11.80 missed the market’s expectations.
The consensus opinion on URI stock is cautiously bullish, with an overall “Moderate Buy” rating. Of 19 analysts covering the stock, eight advise a “Strong Buy” rating, one suggests a “Moderate Buy,” six suggest a “Hold,” and four suggest a “Strong Sell.” URI's average analyst price target is $841, which indicates that the stock trades at a premium of 21.9% from the prevailing market prices.
