Electro Rent Corp. (ELRC) Announces Quarterly Earnings Results
Electro Rent Corp. (NASDAQ:ELRC) announced its earnings results on Wednesday. The company reported $0.23 earnings per share (EPS) for the quarter, AnalystRatings.Net reports. The company had revenue of $57.90 million for the quarter, compared to the consensus estimate of $65.20 million.
On a related note, analysts at Thomson Reuters/Verus downgraded shares of Electro Rent Corp. from a “hold” rating to a “sell” rating in a research note to investors on Monday, October 14th.
Shares of Electro Rent Corp. (NASDAQ:ELRC) traded down 2.45% on Wednesday, hitting $17.88. 24,431 shares of the company’s stock traded hands. Electro Rent Corp. has a 1-year low of $14.59 and a 1-year high of $21.58. The stock has a 50-day moving average of $19.18 and a 200-day moving average of $18.28. The company has a market cap of $429.0 million and a P/E ratio of 19.09.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a dividend of 0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Wednesday, December 18th.
Electro Rent Corporation is engaged in rental, lease and sale of new and used electronic test and measurement (NASDAQ:ELRC) equipment.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.