McGrath RentCorp (MGRC) Set to Announce Earnings on Tuesday
McGrath RentCorp (NASDAQ:MGRC) will be releasing its earnings data after the market closes on Tuesday, October 31st. Analysts expect McGrath RentCorp to post earnings of $0.56 per share for the quarter.
McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. The business had revenue of $109.58 million for the quarter, compared to analyst estimates of $105.36 million. McGrath RentCorp had a net margin of 9.74% and a return on equity of 10.62%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. On average, analysts expect McGrath RentCorp to post $1.9 EPS for the current fiscal year and $2.02 EPS for the next fiscal year.
Shares of McGrath RentCorp (NASDAQ:MGRC) opened at 45.23 on Tuesday. McGrath RentCorp has a 52 week low of $29.26 and a 52 week high of $46.73. The stock has a 50 day moving average of $43.30 and a 200-day moving average of $37.41. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 25.86 and a beta of 0.97.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 17th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, October 16th. This represents a $1.04 annualized dividend and a yield of 2.30%. McGrath RentCorp’s dividend payout ratio is 59.43%.
In other McGrath RentCorp news, VP Keith E. Pratt sold 3,261 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $40.73, for a total value of $132,820.53. Following the sale, the vice president now directly owns 26,000 shares in the company, valued at approximately $1,058,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Trease Kristina Van sold 1,043 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $39.82, for a total transaction of $41,532.26. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at $755,504.86. The disclosure for this sale can be found here. Insiders sold a total of 18,265 shares of company stock worth $719,958 over the last 90 days. Company insiders own 4.60% of the company’s stock.
Several research firms have issued reports on MGRC. Zacks Investment Research lowered shares of McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub upgraded shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research report on Monday, July 24th.
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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