McGrath RentCorp (MGRC) Set to Announce Earnings on Wednesday
McGrath RentCorp (NASDAQ:MGRC) is set to release its earnings data after the market closes on Wednesday, August 2nd. Analysts expect McGrath RentCorp to post earnings of $0.38 per share for the quarter.
McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Tuesday, May 2nd. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The company had revenue of $94.84 million during the quarter, compared to the consensus estimate of $95.10 million. McGrath RentCorp had a return on equity of 10.14% and a net margin of 9.33%. On average, analysts expect McGrath RentCorp to post $1.77 EPS for the current fiscal year and $1.92 EPS for the next fiscal year.
McGrath RentCorp (NASDAQ:MGRC) traded up 0.35% during midday trading on Thursday, hitting $34.66. The stock had a trading volume of 15,686 shares. McGrath RentCorp has a 52 week low of $29.27 and a 52 week high of $39.86. The company has a market capitalization of $831.18 million, a PE ratio of 20.90 and a beta of 0.97. The company’s 50-day moving average price is $34.14 and its 200 day moving average price is $35.12.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 17th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, July 13th. McGrath RentCorp’s dividend payout ratio (DPR) is 63.03%.
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Several equities research analysts recently weighed in on the company. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Friday, June 9th. BidaskClub raised McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Monday.
In other McGrath RentCorp news, VP Philip B. Hawkins sold 1,500 shares of McGrath RentCorp stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $36.00, for a total transaction of $54,000.00. Following the transaction, the vice president now directly owns 3,624 shares of the company’s stock, valued at approximately $130,464. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph F. Hanna sold 6,000 shares of McGrath RentCorp stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $34.55, for a total value of $207,300.00. Following the transaction, the chief executive officer now directly owns 30,087 shares in the company, valued at $1,039,505.85. The disclosure for this sale can be found here. Insiders have sold a total of 12,500 shares of company stock worth $442,090 over the last ninety days. Company insiders own 4.60% of the company’s stock.
McGrath RentCorp Company Profile
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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