Analysts Anticipate McGrath RentCorp (MGRC) to Announce $0.86 EPS

Shares of McGrath RentCorp (NASDAQ:MGRC) have received an average broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Zacks has also assigned McGrath RentCorp an industry rank of 121 out of 255 based on the ratings given to its competitors.

MGRC has been the topic of a number of research analyst reports. BidaskClub cut McGrath RentCorp from a “strong-buy” rating to a “buy” rating in a report on Friday, June 8th. Zacks Investment Research lowered McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Finally, ValuEngine lowered McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Monday, July 30th.

In other McGrath RentCorp news, VP John P. Skenesky sold 4,671 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $63.77, for a total value of $297,869.67. Following the transaction, the vice president now directly owns 5,687 shares of the company’s stock, valued at $362,659.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald H. Zech sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following the completion of the transaction, the director now directly owns 38,689 shares in the company, valued at $2,495,053.61. The disclosure for this sale can be found here. Insiders sold 21,551 shares of company stock worth $1,397,238 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in MGRC. BlackRock Inc. raised its position in McGrath RentCorp by 47.8% in the second quarter. BlackRock Inc. now owns 2,189,646 shares of the financial services provider’s stock valued at $138,539,000 after purchasing an additional 708,609 shares during the period. Franklin Resources Inc. raised its position in McGrath RentCorp by 22.2% in the first quarter. Franklin Resources Inc. now owns 1,990,445 shares of the financial services provider’s stock valued at $106,867,000 after purchasing an additional 361,840 shares during the period. Public Employees Retirement Association of Colorado raised its position in McGrath RentCorp by 1,989.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 159,430 shares of the financial services provider’s stock valued at $10,087,000 after purchasing an additional 151,800 shares during the period. Acadian Asset Management LLC purchased a new position in McGrath RentCorp in the second quarter valued at about $8,301,000. Finally, Matarin Capital Management LLC purchased a new position in McGrath RentCorp in the first quarter valued at about $6,314,000. 81.69% of the stock is currently owned by institutional investors.

McGrath RentCorp stock traded up $0.63 during midday trading on Tuesday, reaching $58.02. The stock had a trading volume of 134,406 shares, compared to its average volume of 135,335. McGrath RentCorp has a twelve month low of $38.06 and a twelve month high of $68.79. The stock has a market capitalization of $1.39 billion, a P/E ratio of 27.11, a PEG ratio of 2.10 and a beta of 0.84.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Tuesday, July 31st. The financial services provider reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. McGrath RentCorp had a return on equity of 11.91% and a net margin of 34.37%. The firm had revenue of $117.00 million for the quarter, compared to analysts’ expectations of $112.69 million. During the same quarter last year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. analysts predict that McGrath RentCorp will post 2.73 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 31st. Shareholders of record on Tuesday, July 17th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.34%. The ex-dividend date was Monday, July 16th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 63.55%.

About McGrath RentCorp

McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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