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Chewy, National Beverage Corp, Avis Budget Group, CBRE Group and United Rentals highlighted as Zacks Bull and Bear of the Day
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For Immediate Release
Chicago, IL – July 26, 2021 – Zacks Equity Research Shares of Chewy, Inc. (CHWY - Free Report) as the Bull of the Day, National Beverage Corp. (FIZZ - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Avis Budget Group, Inc. (CAR - Free Report) , CBRE Group, Inc. (CBRE - Free Report) and United Rentals, Inc. (URI - Free Report) .
Chewy stock benefited greatly from the stay-at-home economy during the height of the pandemic. The e-commerce pet store then got hammered in the early part of 2021, as Wall Street dumped covid high-flyers. Luckily for investors who missed out on that run, Chewy’s outlook remains strong and it’s starting to regain momentum.
Modern Pet Store Star
Chewy was founded roughly a decade ago as a pet store solution for the Amazon age. The company has spent the past ten years expanding its customer base and its portfolio in order to thrive for the next decade and beyond as more customers crave convenience and are willing to pay for it.
The firm sells pet food, supplies, treats, medications, and much more for a variety of animals. Chewy has found success by adding loyal pet owners to its ranks, with roughly 70% of sales coming from its Autoship business that allows people to have food and more delivered at regular intervals.
Investors should love the stability of these repeat customers who have come to love having products such as pet food and medicine delivered in regular intervals. People also clearly have the ability to order anything else available on Chewy whenever they want or need it.
Chewy last October launched a telehealth service called Connect with a Vet, which it has continued to improve. The company has also boosted its pharmacy offerings, and it has nationwide pet adoption services. All of these offerings should help it compete against the titans of e-commerce from Amazon to Target, while also jumping to the forefront of pet-based telehealth, which has real legs far beyond the coronavirus.
Recent Quarter
Chewy added 43% more users in 2020 to close the year with 19.2 million, with revenue up 47% to $7.15 billion. This topped 37% sales growth during its first year as a public firm in FY19. The company then topped our Q1 estimates (period ended on May 2) in early June, with revenue and new active customers both up 32%. CHWY’s gross margin grew by 4.2% to 27.6%.
On top of that, the company posted positive adjusted earnings for the second quarter in a row. Chewy’s adjusted +$0.15 a share Q1 earnings crushed our estimate that called for a loss of -$0.02 a share and marked a big climb from the -$0.12 a share loss it posted a year ago.
Perhaps most importantly, Chewy closed the quarter with 19.8 million active customers, up 600K sequentially. “Further, retention rates remained steady as the 2020 cohort matured into their second year on our platform. Taking a broader view, over the past two years, we have increased our active customer base by 8.4 million or 75%,” CEO Sumit Singh said on the company’s earnings call.
Other Fundamentals
Chewy has blown away our bottom-line estimates in the trailing four periods. Analysts also raised their EPS estimates for fiscal 2021 and 2022 following the strong Q1 report. And there have been more positive revisions in the last seven days.
Looking down the road, Zacks estimates call for Chewy’s FY21 revenue to climb 26% or $1.8 billion higher to reach $9.0 billion, with it projected to add another $1.9 billion or 21% higher sales in 2022 to come in at $10.84 billion. Meanwhile, its adjusted FY21 earnings are expected to climb 33% to $0.12 a share, with FY22 set to skyrocket 179% to $0.33 a share.
Chewy’s positive earnings revisions, including the recent pop in its longer-term consensus estimates, helps it land a Zacks Rank #1 (Strong Buy) at the moment. The stock also grabs an “A” grade for Growth in our Style Scores system and its Consumer Products–Staples is in the top 30% of our over 250 Zacks industries.
Price Movement & More
Chewy shares had soared over 300% from their March 2020 lows to their February highs of around $120 a share. CHWY got crushed when Wall Street sold high-flyers and pandemic winners. The stock, like many other growth-focused firms and tech giants like Apple, regained momentum around mid-May as Wall Street decided it was time to buy up their favorite long-term stocks at discounts.
CHWY has climbed 32% since May 13, right after it briefly fell into oversold RSI territory of 30. The stock has also surged in the last week, including a strong jump during regular hours Friday to close around $87 a share.
Chewy’s recent run has pushed it back above its 200-day moving average and it still trades 28% below its records, even as the market is back at fresh highs. Despite the rip higher, CHWY trades below overbought RSI (70) levels at the moment at around 60. And it trades at a 50% discount to its highs at 3.5X forward sales. All of this could give the stock plenty of room to run.
Bottom Line
Wall Street remains largely high on Chewy, with nine of the 14 brokerage recommendations Zacks has at “Strong Buys,” with only one below a “Hold.” Investors might want to take a bite out of CHWY since e-commerce was booming long before the pandemic and people utilizing delivery, especially automated delivery for essentials like pet food are unlikely to go back even as they return to their normal lives.
National Beverage Corp. makes LaCroix and other beverages. FIZZ stock has gone on a wild ride in 2021, as part of a wave of short squeezes that hit Wall Street earlier in the year. The company’s near-term earnings outlook has trended in the wrong direction and it might be a bit risky to take a swig of FIZZ shares.
Lost Its Fizz?
National Beverage sells sparkling waters, juices, energy drinks, and some carbonated soft drinks, ranging far beyond its widely-popular LaCroix. The flavored seltzer brand, with multiple flavors, has been around for decades, but really kicked things into high gear over the last five-plus years as consumers searched for alternatives to sugary sodas.
LaCroix began to fly off shelves and helped create the current seltzer drink craze that’s spilled over into the alcoholic beverage market. National Beverage’s success saw PepsiCo launch its Bubly brand, while Coca-Cola bought Topo Chico in 2017 and launched its own sparkling water brand.
Plus, retail giants like Target sell their own store brands and startups are popping up all the time. The crowded market makes things harder on National Beverage, and some brands have undercut LaCroix on price.
The stock is also currently heavily shorted (around 24% of float at last report), even after a short squeeze helped it skyrocket earlier this year. FIZZ has also seen its consensus earnings estimates slip. And of the two brokerage recommendations Zacks has for the stock, one is a “Hold” and the other is a “Strong Sell.”
Bottom Line
National Beverage’s earnings revisions help it land a Zacks Rank #5 (Strong Sell) at the moment. FIZZ’s Beverages - Soft drinks space also sits in the bottom 25% of over 250 Zacks industries. Therefore, investors might want to stay away from FIZZ as it appears to be more of a trader’s stock at the moment.
Additional content:
3 Model Zacks Buys
If you have a goal in life, it’s a good idea to find a model of success to emulate. Someone who already achieved the results you want and can help you find similar results.
You’ll find Zacks Rank #1s (Strong Buys) and Zacks Rank #2s (Buys) that are in the Top 50% of the Zacks Industry Rank and have strong Zacks Style Scores.
It's a great place to start on your path toward greater profitability. Here are three names that recently made the screen and are worth watching:
Avis Budget Group
You know what’s not in very high demand during an unprecedented pandemic? Car rentals. Where are you going to go? Leisure travel and business travel are shut down, and even your closest friends and family are too nervous to have you around. It’s a tough environment for a company like Avis Budget Group… but it looks like the arteries of this country are finally opening up again.
As you already know, CAR is a leading vehicle rental operator with an average rental fleet of nearly 650,000 vehicles. Its operations are split into two segments: Americas (69% of 2020 revenues) and International (31%). The company has all the market segments covered with the Avis brand handling the hoity-toity upscale customers and Budget tackling the mid-tier customer. There’s also a deep-value brand and, of course, Zipcar for urbanites.
It’s history of acquisitions, technological enhancement and fleet expansion continued even through the pandemic. Most noteworthy at this time is CAR’s drive to simplify the online interaction of customers, especially through its Avis mobile app. Such improvement will be a huge benefit even when the pandemic is gone once and for all.
Shares have surged nearly 170% over the past 12 months, including about 109% this year alone. Results have beaten the Zacks Consensus Estimate for three consecutive quarters with the next report coming on August 3.
Last time, CAR lost 46 cents per share in its first quarter, which was actually better than the Zacks Consensus Estimate by more than 80%. We were expecting a loss of more than $2! Total revenue of $1.37 billion dropped more than 21% year over year as you’d expect during this challenging period, but still beat the Zacks Consensus Estimate by nearly 11%.
The company attributed its solid results to cost discipline and fleet optimization, which drove higher utilization and reduced costs. Though a specific outlook was not given, analysts think CAR has lots of potential moving forward, as evidenced by the rise in earnings estimates over the past 60 days.
The Zacks Consensus Estimate for this year is up 12% in that time to $4.34, while next year advanced by a more modest 3.7% to $5.32. But it does suggest year-over-year improvement of 22.6%.
CBRE Group
The pandemic took a heavy toll on property leasing and sales, and yet CBRE Group was able to report the best first-quarter performance in its history back in late April. And it has a positive Earnings ESP of more than 6% heading into its second quarter report on July 29. If the company can beat the Zacks Consensus Estimate again, it would mark six straight quarters of outperformance.
CBRE is a commercial real estate services and investment firm, offering a wide range of services to tenants, owners, lenders and investors. It has three global business segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. Shares are up 100% over the past 12 months, including over 40% in this year alone.
It reported the highest top and bottom-line results for a first quarter ever earlier this year. Earnings per share of 86 cents improved nearly 15% year over year and beat the Zacks Consensus Estimate by over 22%. Revenue of $5.94 billion were above our expectations at $5.75 billion.
CBRE expects full year 2021 adjusted earnings to “meaningfully surpass” that of 2019’s peak level thanks to strong growth despite continued pressure on the office market.
So how has the company been able to prosper in such difficult circumstances? The same way your portfolio survives the tough times: diversification. CBRE diversified its business across four key areas: property types, business lines, geography and client types. Meanwhile, it also made smart technological investments, initiated cost-management moves and has a strong balance sheet position.
Analysts currently expect double-digit earnings growth moving forward. The Zacks Consensus Estimate for this year is now $4.04, which advanced 5.5% over the past 30 days. Earnings are expected at $4.61 for next year, which is up 6.5% over that time and suggests year-over-year improvement of more than 14%.
United Rentals
You don’t rent things like scissor lifts, track loaders and backhoes to do a little gardening in the backyard. These are heavy-duty tools used for big and sometimes dangerous industrial jobs, which means they haven’t been in much demand for a while. But, fortunately, that’s changing right now.
Take United Rentals as an example. Its key end markets have been rebounding to such an extent that the company raised its full year guidance, which is still going to be an impressive feat this earnings season. Furthermore, shares are up more than 97% over the past year, including a rise of over 38% in this year alone.
URI is the largest equipment rental company in the world with a network of 1165 rental locations, offering 4,000 classes of equipment for customers in construction, industrial, utilities, municipalities, government agencies and homeowners, among others. It’s two business segments are: General Rentals (78.5% of total revenues in 2020) and Trench, Power and Fluid Solutions (21.5%).
Despite all the craziness of the last year-and-a-half, URI has still beaten the Zacks Consensus Estimate for an impressive 13 straight quarters. Therefore, it will be going for 14 in a row when it reports again next week on July 28.
Last time in its first quarter, earnings per share of $3.45 beat our expectations by 11.3%, bringing the four-quarter average surprise up to 36.1%. Total revenue of $2.06 billion was down year over year as you might expect, but only by 3.2%. Plus, it was ahead of the Zacks Consensus Estimate by 2.4%.
Most importantly, the company raised the outlook for 2021. It now expects total revenue between $9.05 billion and $9.45 billion, instead of the prior outlook at $8.625 billion to $9.025 billion. Adjusted EBITDA is now expected between $4.1 billion and $4.3 billion, rather than $3.925 billion to $4.125 billion.
Since the report, URI completed its acquisition of General Finance, a leading provider of mobile storage and modular office space. URI will update its 2021 financial outlook next week to account for this addition.
The Zacks Consensus Estimates are $21.14 for this year and $24.39 for next, which marks gains of more than 12% for each period over the past 90 days. That marks a year-over-year profit growth of more than 15%.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Chewy, National Beverage Corp, Avis Budget Group, CBRE Group and United Rentals highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – July 26, 2021 – Zacks Equity Research Shares of Chewy, Inc. (CHWY - Free Report) as the Bull of the Day, National Beverage Corp. (FIZZ - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Avis Budget Group, Inc. (CAR - Free Report) , CBRE Group, Inc. (CBRE - Free Report) and United Rentals, Inc. (URI - Free Report) .
Here is a synopsis of all five stocks:
Bull of the Day:
Chewy stock benefited greatly from the stay-at-home economy during the height of the pandemic. The e-commerce pet store then got hammered in the early part of 2021, as Wall Street dumped covid high-flyers. Luckily for investors who missed out on that run, Chewy’s outlook remains strong and it’s starting to regain momentum.
Modern Pet Store Star
Chewy was founded roughly a decade ago as a pet store solution for the Amazon age. The company has spent the past ten years expanding its customer base and its portfolio in order to thrive for the next decade and beyond as more customers crave convenience and are willing to pay for it.
The firm sells pet food, supplies, treats, medications, and much more for a variety of animals. Chewy has found success by adding loyal pet owners to its ranks, with roughly 70% of sales coming from its Autoship business that allows people to have food and more delivered at regular intervals.
Investors should love the stability of these repeat customers who have come to love having products such as pet food and medicine delivered in regular intervals. People also clearly have the ability to order anything else available on Chewy whenever they want or need it.
Chewy last October launched a telehealth service called Connect with a Vet, which it has continued to improve. The company has also boosted its pharmacy offerings, and it has nationwide pet adoption services. All of these offerings should help it compete against the titans of e-commerce from Amazon to Target, while also jumping to the forefront of pet-based telehealth, which has real legs far beyond the coronavirus.
Recent Quarter
Chewy added 43% more users in 2020 to close the year with 19.2 million, with revenue up 47% to $7.15 billion. This topped 37% sales growth during its first year as a public firm in FY19. The company then topped our Q1 estimates (period ended on May 2) in early June, with revenue and new active customers both up 32%. CHWY’s gross margin grew by 4.2% to 27.6%.
On top of that, the company posted positive adjusted earnings for the second quarter in a row. Chewy’s adjusted +$0.15 a share Q1 earnings crushed our estimate that called for a loss of -$0.02 a share and marked a big climb from the -$0.12 a share loss it posted a year ago.
Perhaps most importantly, Chewy closed the quarter with 19.8 million active customers, up 600K sequentially. “Further, retention rates remained steady as the 2020 cohort matured into their second year on our platform. Taking a broader view, over the past two years, we have increased our active customer base by 8.4 million or 75%,” CEO Sumit Singh said on the company’s earnings call.
Other Fundamentals
Chewy has blown away our bottom-line estimates in the trailing four periods. Analysts also raised their EPS estimates for fiscal 2021 and 2022 following the strong Q1 report. And there have been more positive revisions in the last seven days.
Looking down the road, Zacks estimates call for Chewy’s FY21 revenue to climb 26% or $1.8 billion higher to reach $9.0 billion, with it projected to add another $1.9 billion or 21% higher sales in 2022 to come in at $10.84 billion. Meanwhile, its adjusted FY21 earnings are expected to climb 33% to $0.12 a share, with FY22 set to skyrocket 179% to $0.33 a share.
Chewy’s positive earnings revisions, including the recent pop in its longer-term consensus estimates, helps it land a Zacks Rank #1 (Strong Buy) at the moment. The stock also grabs an “A” grade for Growth in our Style Scores system and its Consumer Products–Staples is in the top 30% of our over 250 Zacks industries.
Price Movement & More
Chewy shares had soared over 300% from their March 2020 lows to their February highs of around $120 a share. CHWY got crushed when Wall Street sold high-flyers and pandemic winners. The stock, like many other growth-focused firms and tech giants like Apple, regained momentum around mid-May as Wall Street decided it was time to buy up their favorite long-term stocks at discounts.
CHWY has climbed 32% since May 13, right after it briefly fell into oversold RSI territory of 30. The stock has also surged in the last week, including a strong jump during regular hours Friday to close around $87 a share.
Chewy’s recent run has pushed it back above its 200-day moving average and it still trades 28% below its records, even as the market is back at fresh highs. Despite the rip higher, CHWY trades below overbought RSI (70) levels at the moment at around 60. And it trades at a 50% discount to its highs at 3.5X forward sales. All of this could give the stock plenty of room to run.
Bottom Line
Wall Street remains largely high on Chewy, with nine of the 14 brokerage recommendations Zacks has at “Strong Buys,” with only one below a “Hold.” Investors might want to take a bite out of CHWY since e-commerce was booming long before the pandemic and people utilizing delivery, especially automated delivery for essentials like pet food are unlikely to go back even as they return to their normal lives.
Bear of the Day:
National Beverage Corp. makes LaCroix and other beverages. FIZZ stock has gone on a wild ride in 2021, as part of a wave of short squeezes that hit Wall Street earlier in the year. The company’s near-term earnings outlook has trended in the wrong direction and it might be a bit risky to take a swig of FIZZ shares.
Lost Its Fizz?
National Beverage sells sparkling waters, juices, energy drinks, and some carbonated soft drinks, ranging far beyond its widely-popular LaCroix. The flavored seltzer brand, with multiple flavors, has been around for decades, but really kicked things into high gear over the last five-plus years as consumers searched for alternatives to sugary sodas.
LaCroix began to fly off shelves and helped create the current seltzer drink craze that’s spilled over into the alcoholic beverage market. National Beverage’s success saw PepsiCo launch its Bubly brand, while Coca-Cola bought Topo Chico in 2017 and launched its own sparkling water brand.
Plus, retail giants like Target sell their own store brands and startups are popping up all the time. The crowded market makes things harder on National Beverage, and some brands have undercut LaCroix on price.
The stock is also currently heavily shorted (around 24% of float at last report), even after a short squeeze helped it skyrocket earlier this year. FIZZ has also seen its consensus earnings estimates slip. And of the two brokerage recommendations Zacks has for the stock, one is a “Hold” and the other is a “Strong Sell.”
Bottom Line
National Beverage’s earnings revisions help it land a Zacks Rank #5 (Strong Sell) at the moment. FIZZ’s Beverages - Soft drinks space also sits in the bottom 25% of over 250 Zacks industries. Therefore, investors might want to stay away from FIZZ as it appears to be more of a trader’s stock at the moment.
Additional content:
3 Model Zacks Buys
If you have a goal in life, it’s a good idea to find a model of success to emulate. Someone who already achieved the results you want and can help you find similar results.
If one of your goals is a more profitable portfolio, then we’ve got a great tool for you. Check out the Model Zacks Strong Buys & Buy screen.
You’ll find Zacks Rank #1s (Strong Buys) and Zacks Rank #2s (Buys) that are in the Top 50% of the Zacks Industry Rank and have strong Zacks Style Scores.
It's a great place to start on your path toward greater profitability. Here are three names that recently made the screen and are worth watching:
Avis Budget Group
You know what’s not in very high demand during an unprecedented pandemic? Car rentals. Where are you going to go? Leisure travel and business travel are shut down, and even your closest friends and family are too nervous to have you around. It’s a tough environment for a company like Avis Budget Group… but it looks like the arteries of this country are finally opening up again.
As you already know, CAR is a leading vehicle rental operator with an average rental fleet of nearly 650,000 vehicles. Its operations are split into two segments: Americas (69% of 2020 revenues) and International (31%). The company has all the market segments covered with the Avis brand handling the hoity-toity upscale customers and Budget tackling the mid-tier customer. There’s also a deep-value brand and, of course, Zipcar for urbanites.
It’s history of acquisitions, technological enhancement and fleet expansion continued even through the pandemic. Most noteworthy at this time is CAR’s drive to simplify the online interaction of customers, especially through its Avis mobile app. Such improvement will be a huge benefit even when the pandemic is gone once and for all.
Shares have surged nearly 170% over the past 12 months, including about 109% this year alone. Results have beaten the Zacks Consensus Estimate for three consecutive quarters with the next report coming on August 3.
Last time, CAR lost 46 cents per share in its first quarter, which was actually better than the Zacks Consensus Estimate by more than 80%. We were expecting a loss of more than $2! Total revenue of $1.37 billion dropped more than 21% year over year as you’d expect during this challenging period, but still beat the Zacks Consensus Estimate by nearly 11%.
The company attributed its solid results to cost discipline and fleet optimization, which drove higher utilization and reduced costs. Though a specific outlook was not given, analysts think CAR has lots of potential moving forward, as evidenced by the rise in earnings estimates over the past 60 days.
The Zacks Consensus Estimate for this year is up 12% in that time to $4.34, while next year advanced by a more modest 3.7% to $5.32. But it does suggest year-over-year improvement of 22.6%.
CBRE Group
The pandemic took a heavy toll on property leasing and sales, and yet CBRE Group was able to report the best first-quarter performance in its history back in late April. And it has a positive Earnings ESP of more than 6% heading into its second quarter report on July 29. If the company can beat the Zacks Consensus Estimate again, it would mark six straight quarters of outperformance.
CBRE is a commercial real estate services and investment firm, offering a wide range of services to tenants, owners, lenders and investors. It has three global business segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. Shares are up 100% over the past 12 months, including over 40% in this year alone.
It reported the highest top and bottom-line results for a first quarter ever earlier this year. Earnings per share of 86 cents improved nearly 15% year over year and beat the Zacks Consensus Estimate by over 22%. Revenue of $5.94 billion were above our expectations at $5.75 billion.
CBRE expects full year 2021 adjusted earnings to “meaningfully surpass” that of 2019’s peak level thanks to strong growth despite continued pressure on the office market.
So how has the company been able to prosper in such difficult circumstances? The same way your portfolio survives the tough times: diversification. CBRE diversified its business across four key areas: property types, business lines, geography and client types. Meanwhile, it also made smart technological investments, initiated cost-management moves and has a strong balance sheet position.
Analysts currently expect double-digit earnings growth moving forward. The Zacks Consensus Estimate for this year is now $4.04, which advanced 5.5% over the past 30 days. Earnings are expected at $4.61 for next year, which is up 6.5% over that time and suggests year-over-year improvement of more than 14%.
United Rentals
You don’t rent things like scissor lifts, track loaders and backhoes to do a little gardening in the backyard. These are heavy-duty tools used for big and sometimes dangerous industrial jobs, which means they haven’t been in much demand for a while. But, fortunately, that’s changing right now.
Take United Rentals as an example. Its key end markets have been rebounding to such an extent that the company raised its full year guidance, which is still going to be an impressive feat this earnings season. Furthermore, shares are up more than 97% over the past year, including a rise of over 38% in this year alone.
URI is the largest equipment rental company in the world with a network of 1165 rental locations, offering 4,000 classes of equipment for customers in construction, industrial, utilities, municipalities, government agencies and homeowners, among others. It’s two business segments are: General Rentals (78.5% of total revenues in 2020) and Trench, Power and Fluid Solutions (21.5%).
Despite all the craziness of the last year-and-a-half, URI has still beaten the Zacks Consensus Estimate for an impressive 13 straight quarters. Therefore, it will be going for 14 in a row when it reports again next week on July 28.
Last time in its first quarter, earnings per share of $3.45 beat our expectations by 11.3%, bringing the four-quarter average surprise up to 36.1%. Total revenue of $2.06 billion was down year over year as you might expect, but only by 3.2%. Plus, it was ahead of the Zacks Consensus Estimate by 2.4%.
Most importantly, the company raised the outlook for 2021. It now expects total revenue between $9.05 billion and $9.45 billion, instead of the prior outlook at $8.625 billion to $9.025 billion. Adjusted EBITDA is now expected between $4.1 billion and $4.3 billion, rather than $3.925 billion to $4.125 billion.
Since the report, URI completed its acquisition of General Finance, a leading provider of mobile storage and modular office space. URI will update its 2021 financial outlook next week to account for this addition.
The Zacks Consensus Estimates are $21.14 for this year and $24.39 for next, which marks gains of more than 12% for each period over the past 90 days. That marks a year-over-year profit growth of more than 15%.
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.