3 Stocks to Watch on Thursday: Crown Castle International Corp. (REIT) (CCI), Lam Research Corporation (LRCX) and United Rentals, Inc. (URI)

CCI revenue up 20.4%, LRCX earnings impress, URI caps off record year

U.S. equities were mixed on Wednesday as the U.S. dollar was slammed due to comments from Treasury Secretary Mnuchin, saying he wasn’t worried about the current level of the greenback, and that a weaker currency is good for trade. The S&P 500 Index lost 0.1%, the Dow Jones Industrial Average edged 0.2% higher and the Nasdaq Composite slipped 0.6%.

3 Stocks to Watch on Thursday: Crown Castle International Corp. (REIT) (CCI), Lam Research Corporation (LRCX) and United Rentals, Inc. (URI)Crown Castle International Corp. (REIT) (NYSE:CCI) and Lam Research Corporation (NASDAQ:LRCX) shares were surging on the companies’ earnings results, while United Rentals, Inc.’s (NYSE:URI) stock falls despite record year.

Here’s what you should know:

Crown Castle International Corp. (REIT) (CCI)

Crown Castle International shares were up on the company’s fourth-quarter results.

During its fourth quarter, the company earned $69.75 million, or 17 cents per share, below the year-ago earnings of $124.71 million, or 35 cents per share. Analysts were calling for earnings of 24 cents per share, according to data compiled by Thomson Reuters.

Revenue for the quarter tallied up to $1.24 billion, a 20.4% increase compared to the year-ago sales of $1.03 billion. Site rental revenues gained 29% year-over-year, while adjusted funds from operations gained 26% to $512 million.

Capital expenditures amounted to $377 million. For its fiscal 2018, Crown Castle International expects EBITDA of $3.07 billion (a 24% increase year-over-year, as well as site rental revenues of $4.61 billion (a 26% gain year-over-year).

CCI stock gained 0.7% after hours Wednesday.

Lam Research Corporation (LRCX)

Lam Research shares were gaining on the company’s latest results.

The company raked in fourth-quarter revenue of $2.58 billion, a 37% improvement compared to the year-ago quarter. The figure topped Wall Street outlook of $2.57 billion.

Earnings was a strong point for Lam Research to as the company earned $4.34 per share on an adjusted basis. Analysts were calling for a consensus estimate of $3.67 per share on an adjusted basis.

The company’s gross profit margin in the quarter surged to 47.6% from 47.2% in the previous quarter. For the current quarter, Lam Research sees earnings in the range of $4.20 to $4.50 per share, ahead of the consensus of $3.77 per share.

It also has a revenue guidance in the range of $2.73 billion to $2.98 billion, topping the analysts’ forecast of $2.65 billion.

LRCX stock popped 4.4% after yesterday’s market close.

United Rentals, Inc. (URI)

United Rentals posted record figures for its latest quarter and fiscal year.

The company’s fourth quarter rental revenue gained 26.8% year-over-year, and its equipment rental revenue surged 26.5% compared tot he year ago quarter thanks to a 28.7% increase in the volume of equipment on rent.

United Rentals also impressed in its pro forma rental category, which saw revenue surge 11.5% year-over-year, thanks to an 8.8% growth in the volume of equipment on rent, plus a 2.0% increase in rental rates.

Full-year revenue was $6.64 billion, topping the fiscal 2016 revenue of $5.76 billion. On a GAAP basis, net income was $15.73 per diluted share, ahead of the $6.45 per diluted share from a year ago.

Adjusted earnings came in at $18.64 per diluted share for the full year, topping the year-ago adjusted earnings of $8.65 per share.

URI stock fell 1.4% after the bell.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/01/3-stocks-watch-thursday-crown-castle-international-corp-reit-cci-lam-research-corporation-lrcx-united-rentals-inc-uri/.

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