Thomson Reuters/Verus Downgrades Electro Rent Corp. to Sell (ELRC)
Electro Rent Corp. (NASDAQ:ELRC) was downgraded by investment analysts at Thomson Reuters/Verus from a “hold” rating to a “sell” rating in a note issued to investors on Monday, Stock Ratings News reports.
Shares of Electro Rent Corp. (NASDAQ:ELRC) traded up 1.64% during mid-day trading on Monday, hitting $19.18. 2,958 shares of the company’s stock traded hands. Electro Rent Corp. has a one year low of $13.56 and a one year high of $19.41. The stock has a 50-day moving average of $17.66 and a 200-day moving average of $17.49. The company has a market cap of $460.2 million and a P/E ratio of 19.66.
Electro Rent Corp. (NASDAQ:ELRC) last released its earnings data on Thursday, October 3rd. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.24 by $0.01. The company had revenue of $60.20 million for the quarter, compared to the consensus estimate of $58.50 million. Analysts expect that Electro Rent Corp. will post $1.02 EPS for the current fiscal year.
Electro Rent Corporation is engaged in rental, lease and sale of new and used electronic test and measurement (NASDAQ:ELRC) equipment.
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