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United Rentals (URI) Stock Moves -0.72%: What You Should Know

The most recent trading session ended with United Rentals (URI) standing at $628.34, reflecting a -0.72% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. On the other hand, the Dow registered a gain of 0.56%, and the technology-centric Nasdaq decreased by 2.05%.

The equipment rental company's shares have seen a decrease of 11.98% over the last month, not keeping up with the Construction sector's loss of 4.28% and the S&P 500's loss of 2.57%.

Market participants will be closely following the financial results of United Rentals in its upcoming release. The company plans to announce its earnings on April 24, 2024. On that day, United Rentals is projected to report earnings of $8.39 per share, which would represent year-over-year growth of 5.53%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.42 billion, up 4.09% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $43.13 per share and revenue of $14.99 billion, indicating changes of +5.87% and +4.59%, respectively, compared to the previous year.

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Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for United Rentals. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.57% increase. United Rentals is currently a Zacks Rank #2 (Buy).

With respect to valuation, United Rentals is currently being traded at a Forward P/E ratio of 14.67. This represents a discount compared to its industry's average Forward P/E of 18.55.

Investors should also note that URI has a PEG ratio of 2.19 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Building Products - Miscellaneous industry was having an average PEG ratio of 1.61.

The Building Products - Miscellaneous industry is part of the Construction sector. This group has a Zacks Industry Rank of 22, putting it in the top 9% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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United Rentals, Inc. (URI) : Free Stock Analysis Report

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Zacks Investment Research