Zacks: McGrath RentCorp (MGRC) Given Average Recommendation of “Hold” by Brokerages
Shares of McGrath RentCorp (NASDAQ:MGRC) have received an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating. McGrath RentCorp’s rating score has declined by 28.8% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Zacks has also given McGrath RentCorp an industry rank of 44 out of 265 based on the ratings given to related companies.
Several research analysts have weighed in on MGRC shares. Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a report on Friday, November 3rd. Oppenheimer restated a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st. Finally, ValuEngine lowered shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
Institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. purchased a new stake in shares of McGrath RentCorp in the third quarter worth about $121,000. SG Americas Securities LLC purchased a new stake in McGrath RentCorp in the third quarter valued at approximately $142,000. US Bancorp DE grew its position in McGrath RentCorp by 17,333.3% during the second quarter. US Bancorp DE now owns 4,184 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 4,160 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of 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 valued at $155,000 after purchasing an additional 3,241 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in McGrath RentCorp in the 3rd quarter worth approximately $233,000. 82.61% of the stock is currently owned by hedge funds and other institutional investors.
McGrath RentCorp (MGRC) opened at $45.80 on Friday. McGrath RentCorp has a 1 year low of $32.09 and a 1 year high of $49.66. The stock has a market cap of $1,126.63, a price-to-earnings ratio of 24.67, a P/E/G ratio of 2.30 and a beta of 1.02.
McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.12. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. The firm had revenue of $135.39 million for the quarter, compared to the consensus estimate of $124.90 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. equities research analysts expect that McGrath RentCorp will post 2.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, January 16th. This represents a $1.04 annualized dividend and a yield of 2.27%. McGrath RentCorp’s payout ratio is currently 54.74%.
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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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