Highlights:
- United Rentals (URI, Financial) unveiled a promising share buyback program and saw its shares rise 1.8% in after-hours trading.
- The company's Q1 revenue growth outperformed expectations, reaching $3.72 billion.
- Analysts anticipate a significant upside for URI stock with an average target price of $696.57.
United Rentals (URI) experienced a 1.8% increase in after-hours trading following a revealing financial update that included robust first-quarter results and the strategic introduction of a $1.5 billion share buyback initiative. In this recent fiscal quarter, the company impressively reported a 6.6% surge in revenue, bringing the total to $3.72 billion, well above forecasts. Complementing this positive trend, adjusted earnings were announced at $8.86 per share.
Wall Street Analysts Forecast
As per projections from 16 industry analysts, the average price target for United Rentals Inc (URI, Financial) over the next year stands at $696.57, with projections reaching as high as $974.00 and as low as $485.00. The current consensus suggests an anticipated upside of 18.22% from the current trading value of $589.21. For a detailed overview of these projections, visit the United Rentals Inc (URI) Forecast page.
When considering recommendations from 23 brokerage firms, United Rentals Inc (URI, Financial) garners an average brokerage recommendation of 2.4, categorizing it under "Outperform". This rating operates on a 1 to 5 scale, where 1 indicates a Strong Buy, and 5 signals a Sell.
According to GuruFocus metrics, the estimated GF Value for United Rentals Inc (URI, Financial) one year from now is projected at $614.09, hinting at a potential gain of 4.22% from its present price of $589.21. The GF Value signifies GuruFocus' fair value estimate for the stock, determined by historical trading multiples, past business growth, and projected future performance. For comprehensive data, consult the United Rentals Inc (URI) Summary page.
