McGrath RentCorp (MGRC) Issues FY14 Earnings Guidance
McGrath RentCorp (NASDAQ:MGRC) issued an update on its FY14 earnings guidance on Thursday morning. The company provided EPS guidance of $1.70-1.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.70, Analyst RN reports.
Shares of McGrath RentCorp (NASDAQ:MGRC) traded down 3.11% on Thursday, hitting $34.55. The stock had a trading volume of 76,926 shares. McGrath RentCorp has a 52 week low of $29.02 and a 52 week high of $40.10. The stock’s 50-day moving average is $36.49 and its 200-day moving average is $35.00. The company has a market cap of $893.9 million and a P/E ratio of 22.18.
McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Thursday, July 31st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.01. The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $91.40 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. McGrath RentCorp’s revenue was up 9.9% compared to the same quarter last year. Analysts expect that McGrath RentCorp will post $1.70 EPS for the current fiscal year.
On a related note, analysts at KeyCorp upgraded shares of McGrath RentCorp from a hold rating to a buy rating in a research note on Thursday, May 8th. They now have a $41.00 price target on the stock.
McGrath RentCorp (NASDAQ:MGRC) is a diversified business to business rental company.
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