Today’s Research Reports on Stocks to Watch: United Rentals and Philip Morris
NEW YORK, NY / ACCESSWIRE / October 19, 2018 / Shares of United Rentals hit a brand new low after reporting financial results that hit the mark. Traders may have been worried about a price target slash from Macquarie and tariff concerns. Shares of Philip Morris saw big gains after it reported its own earnings report.
RDI Initiates Coverage on:
United Rentals, Inc.
https://www.rdinvesting.com/report/?ticker=URI
Philip Morris International Inc.
https://www.rdinvesting.com/report/?ticker=PM
United Rentals, Inc. shares closed down a little over 15% on Thursday on roughly 9.4 million shares traded. Average trading volume for the stock is about 1.2 million shares. The fall came despite the company reporting third-quarter 2018 earnings and revenues that surpassed what analysts had been expecting. Adjusted EPS of $4.74 was higher than the $4.54 that analysts had expected and was a 45.8% jump from the prior-year quarter. Revenue at $2.12 billion was also higher than the $2.02 billion that was expected and was a growth of 19.8% year over year. For the full year, the company is expecting revenue in the range of $7.77-$7.87 billion, an increase of $6.64 billion from its earlier guidance of $7.64 to $7.84 billion. United Rentals reduced its expected range of free cash flow to $1.25 billion to $1.35 billion from a previous range of $1.3 billion to $1.4 billion for the year. CEO Michael Kneeland said that "internal and external indicators point to a solid fourth quarter and healthy momentum into 2019." Traders disappointment could be because of decreased forecast of free cash flows and price target slash from Macquarie, who cut its price target from $130 to $99 per share. Shares of United Rentals hit a new 52-week low of $117.55 yesterday.
Access RDI’s United Rentals, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=URI
Philip Morris International Inc. shares closed up 3.50% on about 11 million shares traded on Thursday. The stock saw gains as the company reported third-quarter earnings. The company said it earned $1.44 a share on revenue of $7.5 billion while analysts were looking for earnings of $1.29, and revenue of $7.16 billion. The tobacco company also reiterated its guidance and expects to earn $4.97 to $5.02 a share. Chief Financial Officer Martin King said during the earnings call, "Our guidance continues to reflect the full year assumptions shown on this slide and detailed in today's press release. Importantly, this includes PMI heated tobacco unit shipment volume of 41 billion to 42 billion units, reflecting a net anticipated distributor inventory reduction of approximately 3 billion units; and PMI heated tobacco unit in-market sales volume of 44 billion to 45 billion units."
Access RDI’s Philip Morris International Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=PM
Our Actionable Research on United Rentals, Inc. (NYSE: URI) and Philip Morris International Inc. (NYSE: PM) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
