Somewhat Positive Press Coverage Somewhat Unlikely to Affect McGrath RentCorp (MGRC) Stock Price
News coverage about McGrath RentCorp (NASDAQ:MGRC) has been trending somewhat positive on Tuesday, according to Accern Sentiment. The research group ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. McGrath RentCorp earned a daily sentiment score of 0.10 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 46.3831574591952 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the news stories that may have impacted Accern Sentiment’s analysis:
- McGrath RentCorp breached its 50 day moving average in a Bearish Manner : MGRC-US : December 11, 2017 (finance.yahoo.com)
- McGrath RentCorp Declares Quarterly Dividend of $0.26 (MGRC) (americanbankingnews.com)
- McGrath RentCorp (MGRC) Receives Consensus Recommendation of “Hold” from Brokerages (americanbankingnews.com)
- Zacks: McGrath RentCorp (MGRC) Given Average Recommendation of “Hold” by Brokerages (americanbankingnews.com)
MGRC has been the topic of several analyst reports. Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a report on Friday, November 3rd. Oppenheimer reissued a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st. Finally, ValuEngine cut shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.12. The company had revenue of $135.39 million during the quarter, compared to analysts’ expectations of $124.90 million. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. analysts anticipate that McGrath RentCorp will post 2.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be given a $0.26 dividend. The ex-dividend date is Tuesday, January 16th. This represents a $1.04 annualized dividend and a yield of 2.30%. McGrath RentCorp’s dividend payout ratio (DPR) is 54.74%.
In other news, Director William J. Dawson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.83, for a total value of $191,320.00. Following the completion of the sale, the director now owns 15,543 shares of the company’s stock, valued at approximately $743,421.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis P. Stradford sold 3,900 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total transaction of $192,699.00. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $247,050. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,159 shares of company stock valued at $628,935. 4.60% of the stock is owned by corporate insiders.
About McGrath RentCorp
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
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