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3 Stocks to Watch on Thursday: Crown Castle In/SH SH (CCI), Sleep Number Corp (SNBR) and United Rentals, Inc. (URI)

U.S. equities were mixed on Wednesday as 58% of investors say 2018 is the peak for stocks.. The S&P 500 Index gained 0.1%, the Dow Jones Industrial Average fell 0.2% and the Nasdaq Composite surged 0.2%.

3 Stocks to Watch on Thursday: CROWN CASTLE In/SH SH (CCI), Sleep Number Corp (SNBR) and United Rentals, Inc. (URI)Several companies reported their quarterly earnings results after the bell Wednesday, including Crown Castle In/SH SH (NYSE:CCI), Sleep Number Corp (NASDAQ:SNBR) and United Rentals, Inc. (NYSE:URI).

Here’s how they did:

Crown Castle In/SH SH (CCI)

Crown Castle unveiled its latest quarterly results late Wednesday.

The company said that for its first quarter of fiscal 2018, earnings amounted to 21 cents per share on an adjusted basis. The Wall Street consensus estimate was calling for adjusted earnings of 26 cents per share.

Crown Castle may have underwhelmed in its earnings totals, but its revenue came in at $1.3 billion for the period. The figure met the $1.3 billion in revenue that analysts were calling for.

The company’s site rental revenues were up by 35% to $1.15 billion, thanks in large part to acquisition contributions that tallied up to $234 million. Crown Castle’s organic contribution was $47 million.

The company’s net income declined 4% to $114 million due in part to $71 million in losses on retiring long-term obligations.

CCI stock gained about 0.4% after the bell Wednesday.

Sleep Number Corp (SNBR)

Sleep Number shares were sinking after hours on the company’s revenue miss.

The company said that its revenue for its first quarter of fiscal 2018 came in at $388.6 million, roughly $5.3 million below the year-ago total. Analysts were calling for revenue of $396.7 million, according to data compiled by FactSet.

Sleep Number added that its net income for the period was $20.6 million, or 52 cents per share, below the year-ago total of $24.5 million, or 56 cents per share. Adjusted earnings were 56 cents per share, which was in line with the Wall Street consensus estimate of 56 cents per share, according to FactSet.

For the second quarter, the company projects adjusted earnings of 3 cents per share on revenue of $319 million. Sleep Number also reiterated its full-year earnings guidance of $1.70 to $2 per share.

SNBR shares plummeted more than 9.3% after hours yesterday.

United Rentals, Inc. (URI)

United Rentals shares fell despite the company’s earnings beat in its latest quarter.

For its first period of fiscal 2018, the company posted adjusted earnings of $2.87 per share, topping analysts’ expectations of a 45% gain in earnings to $2.38 per share, according to Zacks Investment Research.

Revenue was also strong for United Rentals as the company brought in $1.73 billion in sales, which was better than the $1.66 billion that the Wall Street consensus estimate called for, per Zacks.

Rental revenue was up by 25.1%, while its trench, power and pump revenue gained 36.5%. “Our confidence extends to both our immediate operating environment and the durability of the cycle,” said CEO Michael Kneeland in a statement. “Virtually all indicators point to market growth, which supports our reaffirming our outlook for the year.”

For its fiscal 2018, United Rentals management is calling for revenue of $7.3 billion to $7.6 billion, below the consensus estimate of $7.605 billion.

URI stock slipped about 2.4% after Wednesday’s market close.

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

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