McGrath RentCorp (MGRC) Receives Average Rating of “Hold” from Brokerages
Shares of McGrath RentCorp (NASDAQ:MGRC) have been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.
Zacks has also assigned McGrath RentCorp an industry rank of 43 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Oppenheimer reiterated a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st. ValuEngine cut McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, BidaskClub cut McGrath RentCorp from a “hold” rating to a “sell” rating in a research report on Thursday.
A number of hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its holdings in shares of McGrath RentCorp by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 162,836 shares of the financial services provider’s stock worth $5,640,000 after buying an additional 4,754 shares during the period. Bank of America Corp DE increased its holdings in shares of McGrath RentCorp by 9.7% in the first quarter. Bank of America Corp DE now owns 9,417 shares of the financial services provider’s stock worth $316,000 after buying an additional 830 shares during the period. First Trust Advisors LP increased its holdings in McGrath RentCorp by 9.6% during the 3rd quarter. First Trust Advisors LP now owns 54,384 shares of the financial services provider’s stock valued at $2,379,000 after purchasing an additional 4,742 shares during the period. Comerica Bank increased its holdings in McGrath RentCorp by 5.5% during the 2nd quarter. Comerica Bank now owns 73,046 shares of the financial services provider’s stock valued at $2,521,000 after purchasing an additional 3,803 shares during the period. Finally, Northern Trust Corp increased its holdings in McGrath RentCorp by 8.9% during the 2nd quarter. Northern Trust Corp now owns 511,116 shares of the financial services provider’s stock valued at $17,701,000 after purchasing an additional 41,984 shares during the period. 82.61% of the stock is owned by hedge funds and other institutional investors.
Shares of McGrath RentCorp (NASDAQ:MGRC) opened at $45.10 on Thursday. McGrath RentCorp has a 52-week low of $32.09 and a 52-week high of $49.66. The stock has a market capitalization of $1,085.53, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.21 and a beta of 1.02.
McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. The business had revenue of $135.39 million during the quarter, compared to the consensus estimate of $124.90 million. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. analysts anticipate that McGrath RentCorp will post 2.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, January 16th. McGrath RentCorp’s dividend payout ratio is 54.74%.
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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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