2017 eps growth estimate only 2.5%.
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By Michael Brush
Airlines DAL ALK LUV all down 4-6% yesterday.
URI was added to SP500 in late 2014 to replace BTU. URI went straight up for many years to about $116 at the time of addition, then went down to less than 50, It is now trading at around 65. BTU went down from 18 to zero.
URI, United Rentals Inc president and COO Matt Flannery to present at HDMA’s Off-Highway Dialogue, October 6, the Stephen’s Convention Center O’Hare, prior to SAEE ComVec. Click here to learn more.
NEW YORK (AP) -- Equipment rental company United Rentals Inc. and hospital operator Universal Health Services Inc. are being added to the Standard & Poor's 500 index, S&P 500 Dow Jones Indices said Friday.
Both companies have market capitalizations above $11 billion. They are replacing in the S&P 500 Graham Holdings Co., an education and media company, and coal mining company Peabody Energy Corp., which are moving into the S&P MidCap 400. Graham and Peabody have market capitalizations between $3.5 billion and $4.5 billion.
United Rentals and Universal Health had been in the S&P MidCap 400.
Do not buy any US stock:
The investment professionals at Goldman Sachs are alerting clients that "equities do not look attractive."
“We downgrade equities to Neutral over 12 months on growth and valuation concerns,” said the team led by Christian Mueller-Glissman.
Neither of these concerns are new. Not only has earnings growth been negative, but long-term expectations for earnings growth have been lackluster. And valuations have been elevated. According to FactSet, the forward 12-month price-earnings (P/E) ratio is 16.6, which is well above the 5-year average of 14.5 and the 10-year average of 14.3.
All of this is in the context of what they expect to be a rising dollar environment.
For Goldman, the timing of the call was in response to the recent swing in the market. They specifically cited "the rebound from the trough on February 11" and "the S&P 500 (^GSPC) at the upper end of its recent range."
Indian CHEAP labor will be used later.