News articles about McGrath RentCorp (NASDAQ:MGRC) have trended somewhat positive this week, Accern Sentiment reports. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. McGrath RentCorp earned a daily sentiment score of 0.25 on Accern’s scale. Accern also gave news coverage about the financial services provider an impact score of 46.0576136977021 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Shares of McGrath RentCorp (NASDAQ MGRC) opened at $49.66 on Tuesday. The firm has a market cap of $1,193.44, a P/E ratio of 26.14, a P/E/G ratio of 2.23 and a beta of 1.02. McGrath RentCorp has a 1-year low of $32.09 and a 1-year high of $50.09.
McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.12. The firm had revenue of $135.39 million for the quarter, compared to analysts’ expectations of $124.90 million. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. research analysts predict that McGrath RentCorp will post 2.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, January 16th. This represents a $1.04 annualized dividend and a yield of 2.09%. McGrath RentCorp’s dividend payout ratio (DPR) is 54.74%.
MGRC has been the topic of several research reports. ValuEngine cut shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a research report on Friday, November 3rd. BidaskClub cut shares of McGrath RentCorp from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. Finally, Oppenheimer reissued a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st.
In related news, Director Dennis P. Stradford sold 3,900 shares of the firm’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 sale, the director now owns 5,000 shares of the company’s stock, valued at $247,050. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Keith E. Pratt sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $46.01, for a total transaction of $64,966.12. Following the completion of the sale, the chief financial officer now directly owns 28,118 shares in the company, valued at approximately $1,293,709.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,159 shares of company stock worth $628,935. 4.60% of the stock is owned by corporate insiders.
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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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