Brokerages Expect McGrath RentCorp (MGRC) to Announce $0.53 Earnings Per Share
McGrath RentCorp (NASDAQ:MGRC) has been given a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Zacks has also assigned McGrath RentCorp an industry rank of 121 out of 265 based on the ratings given to related companies.
Several research firms recently issued reports on MGRC. BidaskClub cut McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Zacks Investment Research cut McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. ValuEngine cut McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Oppenheimer reaffirmed a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 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 business had revenue of $135.39 million for the quarter, compared to analysts’ expectations of $124.90 million. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. equities analysts predict that McGrath RentCorp will post 2.03 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, January 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.31%. McGrath RentCorp’s payout ratio is 54.74%.
In other news, VP Keith E. Pratt sold 1,213 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $46.52, for a total transaction of $56,428.76. Following the transaction, the vice president now directly owns 25,382 shares of the company’s stock, valued at approximately $1,180,770.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Dawson sold 4,000 shares of the stock in a transaction 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 transaction, the director now directly owns 15,543 shares in the company, valued at $743,421.69. The disclosure for this sale can be found here. Insiders have sold a total of 9,259 shares of company stock worth $436,236 over the last three months. Insiders own 4.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new position in shares of McGrath RentCorp during the 3rd quarter valued at $121,000. SG Americas Securities LLC bought a new position in shares of McGrath RentCorp during the 3rd quarter valued at $142,000. Cubist Systematic Strategies LLC bought a new position in shares of McGrath RentCorp during the 3rd quarter valued at $233,000. Campbell & CO Investment Adviser LLC bought a new position in shares of McGrath RentCorp during the 3rd quarter valued at $297,000. Finally, Capital Management Associates NY purchased a new stake in shares of McGrath RentCorp in the 3rd quarter worth $306,000. 82.78% of the stock is currently owned by hedge funds and other institutional investors.
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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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