Wall Street brokerages expect McGrath RentCorp (NASDAQ:MGRC) to report earnings per share (EPS) of $0.55 for the current quarter, according to Zacks. Two analysts have issued estimates for McGrath RentCorp’s earnings, with estimates ranging from $0.53 to $0.56. McGrath RentCorp reported earnings per share of $0.40 during the same quarter last year, which suggests a positive year-over-year growth rate of 37.5%. The company is expected to announce its next earnings report on Tuesday, February 27th.
On average, analysts expect that McGrath RentCorp will report full year earnings of $2.04 per share for the current fiscal year, with EPS estimates ranging from $2.03 to $2.05. For the next financial year, analysts expect 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 earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for McGrath RentCorp.
McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The firm had revenue of $135.39 million for the quarter, compared to analyst estimates of $124.90 million. During the same quarter last year, the company earned $0.54 EPS. The company’s revenue was up 11.0% on a year-over-year basis.
Several equities research analysts recently weighed in on the company. BidaskClub raised McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a research report on Friday, November 3rd. Finally, Oppenheimer reissued a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st.
In related news, VP Keith E. Pratt sold 1,213 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $46.52, for a total value of $56,428.76. Following the transaction, the vice president now owns 25,382 shares in the company, valued at $1,180,770.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dennis P. Stradford sold 3,900 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $49.41, for a total value of $192,699.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $247,050. The disclosure for this sale can be found here. Insiders have sold a total of 13,159 shares of company stock valued at $628,935 over the last three months. Corporate insiders own 4.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MGRC. Algert Global LLC raised its holdings in McGrath RentCorp by 38.3% during the 3rd quarter. Algert Global LLC now owns 59,177 shares of the financial services provider’s stock valued at $2,589,000 after acquiring an additional 16,388 shares during the period. Walthausen & Co. LLC raised its holdings in McGrath RentCorp by 4.7% during the 3rd quarter. Walthausen & Co. LLC now owns 492,175 shares of the financial services provider’s stock valued at $21,533,000 after acquiring an additional 21,930 shares during the period. California Public Employees Retirement System raised its holdings in McGrath RentCorp by 13.9% during the 3rd quarter. California Public Employees Retirement System now owns 59,916 shares of the financial services provider’s stock valued at $2,621,000 after acquiring an additional 7,316 shares during the period. Cubist Systematic Strategies LLC bought a new stake in McGrath RentCorp during the 3rd quarter valued at $233,000. Finally, Asset Management One Co. Ltd. raised its holdings in McGrath RentCorp by 40.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 81,400 shares of the financial services provider’s stock valued at $3,584,000 after acquiring an additional 23,400 shares during the period. Institutional investors and hedge funds own 82.61% of the company’s stock.
Shares of McGrath RentCorp (MGRC) traded down $0.12 during mid-day trading on Tuesday, hitting $47.06. The company’s stock had a trading volume of 37,600 shares, compared to its average volume of 74,102. The firm has a market cap of $1,130.00, a P/E ratio of 24.77, a PEG ratio of 2.30 and a beta of 1.02. McGrath RentCorp has a 52-week low of $32.09 and a 52-week high of $49.66.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, January 16th. McGrath RentCorp’s dividend 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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