McGrath RentCorp (MGRC) Scheduled to Post Quarterly Earnings on Thursday

McGrath RentCorp (NASDAQ:MGRC) is scheduled to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect McGrath RentCorp to post earnings of $0.73 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Wednesday, February 21st. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.07). The business had revenue of $221.59 million for the quarter, compared to analysts’ expectations of $214.43 million. McGrath RentCorp had a net margin of 20.99% and a return on equity of 13.63%. On average, analysts expect McGrath RentCorp to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

McGrath RentCorp Trading Down 0.5 %

Shares of MGRC opened at $111.53 on Thursday. The firm has a market capitalization of $2.73 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.60 and a beta of 0.80. McGrath RentCorp has a 12-month low of $85.97 and a 12-month high of $130.86. The firm has a fifty day moving average price of $122.46 and a 200-day moving average price of $112.97.

McGrath RentCorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a $0.475 dividend. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.47. This represents a $1.90 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Monday, April 15th. McGrath RentCorp’s dividend payout ratio is currently 26.69%.

Institutional Investors Weigh In On McGrath RentCorp

Large investors have recently modified their holdings of the business. Dark Forest Capital Management LP raised its position in shares of McGrath RentCorp by 210.0% in the 1st quarter. Dark Forest Capital Management LP now owns 310 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 210 shares in the last quarter. KBC Group NV bought a new position in shares of McGrath RentCorp during the 4th quarter worth approximately $33,000. Lazard Asset Management LLC purchased a new stake in McGrath RentCorp during the first quarter valued at approximately $51,000. Tower Research Capital LLC TRC boosted its stake in McGrath RentCorp by 211.3% in the first quarter. Tower Research Capital LLC TRC now owns 607 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 412 shares in the last quarter. Finally, FMR LLC grew its holdings in McGrath RentCorp by 14.1% in the second quarter. FMR LLC now owns 978 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 92.05% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on McGrath RentCorp in a research note on Friday, April 12th. They issued a “hold” rating on the stock.

About McGrath RentCorp

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.