Research Desk Line-up: Willis Lease Finance Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for United Rentals, Inc. (NYSE: URI), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=URI. The Company announced on August 22, 2017, that it has acquired power equipment assets, primarily mobile rental generator sets, from Cummins Inc. (NYSE: CMI). The Company will start serving the needs of former Cummins rental customers and has made its newly acquired rental equipment available immediately. United Rentals is the largest equipment rental Company in the world. The Company has an integrated network of 960 retail locations in 49 states and every Canadian province. The Company's about 13,700 employees serve construction and industrial customers, utilities, municipalities, homeowners, and others. For immediate access to our complimentary reports, including today's coverage, register for free now at:
Discover more of our free reports coverage from other companies within the Rental & Leasing Services industry. Pro-TD has currently selected Willis Lease Finance Corporation (NASDAQ: WLFC) for due-diligence and potential coverage as the Company reported on August 08, 2017, its financial results for Q2 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Willis Lease Finance when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on URI; also brushing on WLFC. Go directly to your stock of interest and access today's free coverage at:
Under the terms of the agreement, United Rentals will acquire Cummins' mobile retail generator fleet, which ranges from 150 Kilowatts to 2 Megawatts in output. Hence, to maintain customer and fleet continuity, a small section of Cummins' employees in the US and Canada have joined United Rentals. United Rentals views this agreement as a step to fulfill the strong demand of power solutions across North America. The Company expects this strategic expansion of its fleet to ensure greater availability and a larger customer service organization.
About Cummins Inc.
Cummins, a global power leader, is a corporation of complementary businesses that design, manufacture, distribute, and service diesel and natural gas engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions, and electrical power generation systems. Headquartered in Columbus, Indiana, USA, Cummins currently employs over 55,400 people worldwide and delivers services to customers in over 190 countries and territories through a Company-owned and independent distributor network of about 7,400 dealer locations. Cummins reported net earnings of $1.39 billion on sales of $17.5 billion in the full year 2016.
The Company expects this move to benefit the mutual customers of both Companies. Customers would have access to United Rentals' extensive rental fleet and Cummins will place a greater degree of focus on delivering the highest quality products and support to its customer base. Cummins expects to continue improving the experience for its customers through this collaboration. United Rentals Power and HVAC are a leader in delivering Power and HVAC products and solutions across North America through 58 strategic locations. The Company delivers custom and turnkey solutions for commercial, industrial, and government customers, with one of the best safety records in the industry.
The Neff Corp. Acquisition
United Rentals recently announced on August 16, 2017, that it has entered into a definitive agreement to acquire The Neff Corp. ("Neff") for $25 per share in cash, representing a total purchase price of about $1.3 billion. The transaction is expected to be immediately accretive to cash EPS and free cash flow. For the full year 2017, Neff expected to generate $2,207 million of adjusted EBITDA at a 49.5% margin on $419 million of total revenue. As of June 30, 2017, Neff has about $867 million of fleet based on original equipment cost.
Last Close Stock Review
On Thursday, August 24, 2017, the stock closed the trading session at $107.61, slightly falling 0.99% from its previous closing price of $108.69. A total volume of 973.52 thousand shares have exchanged hands. United Rentals' stock price soared 32.92% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 1.92%. The stock is trading at a PE ratio of 15.63. At Thursday's closing price, the stock's net capitalization stands at $9.09 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: [email protected]
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily