United Rentals, Inc. [NYSE: URI] surged by $74.74 during the normal trading session on while it closed the day at $651.64. The company report on January 24, 2024 at 4:15 PM that United Rentals Announces Record Fourth Quarter and Full-Year1 2023 Results, Introduces 2024 Outlook and Enhanced Capital Allocation Strategy, Including a Reduced Leverage Target, $1.5 Billion of Share Repurchases and 10% Increase to Dividend.
United Rentals, Inc. (NYSE: URI) today announced financial results for the fourth quarter of 2023 and reported its full-year results on Form 10-K. The company also announced its full-year 2024 guidance and an enhanced capital allocation strategy focused on balancing growth and returns to drive shareholder value that includes a lower targeted full-cycle leverage range, its intention to repurchase $1.5 billion of common stock in 2024 and a 10% increase in its dividend per share.
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United Rentals, Inc. stock has also gained 15.67% of its value over the past 7 days. However, URI stock has inclined by 60.36% in the 3 months of the year. Over the past six months meanwhile, it has gained 46.44% and gained 13.64% year-on date.
The market cap for URI stock reached $44.17 billion, with 67.78 million shares outstanding and 67.40 million shares in the current float. Compared to the average trading volume of 695.36K shares, URI reached a trading volume of 2660826 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about United Rentals, Inc. [URI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for URI shares is $573.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on URI stock is a recommendation set at 2.65. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for United Rentals, Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on January 08, 2024.
The Average True Range (ATR) for United Rentals, Inc. is set at 19.32, with the Price to Sales ratio for URI stock in the period of the last 12 months amounting to 3.08. The Price to Book ratio for the last quarter was 5.39, with the Price to Cash per share for the same quarter was set at 5.36. Price to Free Cash Flow for URI in the course of the last twelve months was 69.67 with Quick ratio for the last quarter at 0.75.
URI stock trade performance evaluation
United Rentals, Inc. [URI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.67. With this latest performance, URI shares gained by 14.22% in over the last four-week period, additionally plugging by 46.44% over the last 6 months – not to mention a rise of 65.47% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for URI stock in for the last two-week period is set at 80.57, with the RSI for the last a single of trading hit 86.41, and the three-weeks RSI is set at 76.31 for United Rentals, Inc. [URI]. The present Moving Average for the last 50 days of trading for this stock 529.50, while it was recorded at 591.50 for the last single week of trading, and 446.53 for the last 200 days.
United Rentals, Inc. [URI]: An insightful look at the core fundamentals
United Rentals, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.75 and a Current Ratio set at 0.81.
Earnings per share (EPS) analysis for United Rentals, Inc. [URI] stock
With the latest financial reports released by the company, United Rentals, Inc. posted 7.95/share EPS, while the average EPS was predicted by analysts to be reported at 7.92/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for URI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for United Rentals, Inc. go to 15.60%.
United Rentals, Inc. [URI]: Institutional Ownership
The top three institutional holders of URI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in URI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in URI stock with ownership which is approximately 5.8325%.
