Zacks: McGrath RentCorp (MGRC) Given Average Recommendation of “Hold” by Brokerages
McGrath RentCorp (NASDAQ:MGRC) has received an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating. McGrath RentCorp’s rating score has declined by 28.8% in the last three months as a result of various analysts’ upgrades and downgrades.
Zacks has also given McGrath RentCorp an industry rank of 18 out of 265 based on the ratings given to its competitors.
A number of research firms recently weighed in on MGRC. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of McGrath RentCorp in a report on Wednesday. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a report on Friday. Finally, BidaskClub raised McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Monday, July 24th.
McGrath RentCorp (NASDAQ:MGRC) opened at $47.96 on Friday. The firm has a market capitalization of $1,152.57, a PE ratio of 25.24, a P/E/G ratio of 2.35 and a beta of 0.99. McGrath RentCorp has a fifty-two week low of $31.85 and a fifty-two week high of $49.66.
McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.12. The company had revenue of $135.39 million during the quarter, compared to analysts’ expectations of $124.90 million. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. McGrath RentCorp’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. research analysts predict that McGrath RentCorp will post 2.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 17th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, October 16th. This represents a $1.04 annualized dividend and a yield of 2.17%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 54.74%.
In other McGrath RentCorp news, VP Trease Kristina Van sold 3,400 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $39.61, for a total transaction of $134,674.00. Following the completion of the sale, the vice president now directly owns 15,030 shares in the company, valued at approximately $595,338.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP John P. Skenesky sold 7,561 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $38.47, for a total value of $290,871.67. Following the sale, the vice president now owns 6,387 shares of the company’s stock, valued at $245,707.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,004 shares of company stock valued at $587,138. 4.60% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. US Bancorp DE increased its stake in McGrath RentCorp by 17,333.3% during the 2nd quarter. US Bancorp DE now owns 4,184 shares of the financial services provider’s stock worth $145,000 after buying an additional 4,160 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in McGrath RentCorp by 260.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the financial services provider’s stock worth $155,000 after buying an additional 3,241 shares in the last quarter. Thrivent Financial For Lutherans purchased a new stake in McGrath RentCorp during the 2nd quarter worth approximately $246,000. Legal & General Group Plc increased its stake in McGrath RentCorp by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 7,252 shares of the financial services provider’s stock worth $252,000 after buying an additional 172 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in McGrath RentCorp by 9.7% during the 1st quarter. Bank of America Corp DE now owns 9,417 shares of the financial services provider’s stock worth $316,000 after buying an additional 830 shares in the last quarter. Institutional investors own 82.55% of the company’s stock.
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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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