Analysts predict that McGrath RentCorp (NASDAQ:MGRC) will post $0.55 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for McGrath RentCorp’s earnings. The lowest EPS estimate is $0.53 and the highest is $0.56. McGrath RentCorp reported earnings per share of $0.40 in the same quarter last year, which suggests a positive year-over-year growth rate of 37.5%. The business is expected to report its next quarterly earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that McGrath RentCorp will report full-year earnings of $2.04 per share for the current financial year, with EPS estimates ranging from $2.03 to $2.05. For the next fiscal year, analysts anticipate that the company will post earnings of $2.23 per share, with EPS estimates ranging from $2.20 to $2.26. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow McGrath RentCorp.
McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. The company had revenue of $135.39 million for the quarter, compared to the consensus estimate of $124.90 million. During the same period last year, the company posted $0.54 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year.
Shares of McGrath RentCorp (MGRC) opened at $49.01 on Friday. McGrath RentCorp has a 1 year low of $32.09 and a 1 year high of $49.66. The company has a market cap of $1,162.19, a P/E ratio of 25.79, a P/E/G ratio of 2.17 and a beta of 1.02.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.12%. McGrath RentCorp’s dividend payout ratio is currently 54.74%.
In other McGrath RentCorp news, VP Keith E. Pratt sold 1,213 shares of McGrath RentCorp stock in a transaction on Monday, November 20th. The shares were sold at an average price of $46.52, for a total transaction of $56,428.76. Following the transaction, the vice president now directly owns 25,382 shares of the company’s stock, valued at approximately $1,180,770.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Dawson sold 4,000 shares of McGrath RentCorp stock in a transaction on Monday, November 27th. The stock was sold at an average price of $47.83, for a total transaction of $191,320.00. Following the transaction, the director now directly owns 15,543 shares in the company, valued at $743,421.69. The disclosure for this sale can be found here. Insiders sold a total of 13,159 shares of company stock valued at $628,935 in the last quarter. 4.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MGRC. Macquarie Group Ltd. purchased a new position in McGrath RentCorp during the 3rd quarter worth $121,000. SG Americas Securities LLC purchased a new position in McGrath RentCorp during the 3rd quarter worth $142,000. BNP Paribas Arbitrage SA boosted its holdings in shares of McGrath RentCorp by 260.7% in 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 during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of McGrath RentCorp in the 3rd quarter worth about $233,000. Finally, Thrivent Financial For Lutherans purchased a new position in shares of McGrath RentCorp in the 2nd quarter worth about $246,000. 82.61% of the stock is currently owned by hedge funds and other institutional investors.
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About McGrath RentCorp
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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