In the latest trading session, United Rentals (URI) closed at $675.49, marking a +1.68% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.12%. Meanwhile, the Dow experienced a rise of 0.61%, and the technology-dominated Nasdaq saw an increase of 1.54%.

Shares of the equipment rental company witnessed a gain of 0.12% over the previous month, trailing the performance of the Construction sector with its gain of 6.92% and the S&P 500's gain of 2.06%.

The investment community will be paying close attention to the earnings performance of United Rentals in its upcoming release. The company is predicted to post an EPS of $8.32, indicating a 4.65% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.42 billion, up 4.02% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $42.83 per share and a revenue of $15 billion, representing changes of +5.13% and +4.63%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for United Rentals. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Right now, United Rentals possesses a Zacks Rank of #3 (Hold).

In terms of valuation, United Rentals is presently being traded at a Forward P/E ratio of 15.51. This expresses a discount compared to the average Forward P/E of 18.72 of its industry.

Investors should also note that URI has a PEG ratio of 2.48 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Building Products - Miscellaneous was holding an average PEG ratio of 1.78 at yesterday's closing price.