Earnings Overload: We Dissect the Quarterly Results at United Rentals, IMAX, and 3 Other Companies

The markets have struggled to find a direction on Thursday morning as the European Central Bank voted to keep interest rates on hold and investors await key data on jobs and economic health. Investors are closely watching several companies which reported their quarterly results on Wednesday afternoon, including United Rentals, Inc. (NYSE:URI), Tractor Supply Company (NASDAQ:TSCO), IMAX Corporation (USA) (NYSE:IMAX), Raymond James Financial, Inc. (NYSE:RJF), and Select Comfort Corp. (NASDAQ:SCSS). We’ll discuss the performance of these five companies in this article and see how hedge funds have been trading their shares lately.

Our backtests that covered the period between 1999 and 2012, showed that following the 15 most popular small-caps among hedge funds can help a retail investor beat the market by an average of 95 basis points per month (see more details here).

stocks, analysis, market, numbers, business, ticker, trade, money, price, investment, index, chart

bluebay/Shutterstock.com

United Rentals Beats Estimates

United Rentals, Inc. (NYSE:URI) has soared by over 14% today after the company posted strong second quarter earnings on Wednesday afternoon. The Connecticut-based equipment rental company earned $2.06 per share ifor the quarter, while analysts were predicting just $1.82. Revenue of $1.42 billion also beat the consensus mark of $1.40 billion. In a media statement, United Rentals CEO Michael Kneeland said that the company is satisfied with the progression in rental rates. Mr. Kneeland added that conditions remained “challenging” for the company in Canada, but that growth along the East and West coasts of the U.S remained strong. For the full year, United Rentals expects total revenue of $5.6 billion-to-$5.8 billion. Immediately after the earnings results, Jefferies reiterated a ‘Buy’ rating on United Rentals with a price target of $80.00. Out of the 766 active funds tracked by Insider Monkey, 42 funds were bullish on United Rentals, Inc. (NYSE:URI) at the end of the first quarter.

Follow United Rentals Inc. (NYSE:URI)

Tractor Supply Company Posts Second Quarter Results, CFO Retires

Tractor Supply Company (NASDAQ:TSCO)’s stock has lost more than 1% in morning trading following the release of the company’s second quarter results, which were in-line with analysts’ estimates. The Tennessee-based supplier of farm equipment, home maintenance gear, and animal food earned $1.16 per share on $1.85 billion in revenue. The company also announced that its CFO Anthony F. Crudele will be replaced by Kurt D. Barton early next year. For the full 2016 fiscal year, Tractor Supply expects to achieve EPS of between $3.35 and $3.40. A total of 28 hedge funds in our database were long Tractor Supply Company (NASDAQ:TSCO) on March 31. Ken Griffin’s Citadel Investment Group held a notable position among these hedge funds, with ownership of more than 1.45 million shares of the company.

Follow Tractor Supply Co (NASDAQ:TSCO)

Move to the next page to see why shares of IMAX, Raymond James Financial and Select Comfort are making moves today.