McGrath RentCorp (MGRC) Earns Coverage Optimism Score of 0.25
Media coverage about McGrath RentCorp (NASDAQ:MGRC) has been trending positive this week, according to Accern. Accern identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. McGrath RentCorp earned a news sentiment score of 0.25 on Accern’s scale. Accern also gave news stories about the financial services provider an impact score of 46.8580609965912 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Shares of McGrath RentCorp (NASDAQ MGRC) traded down $0.16 during mid-day trading on Friday, hitting $45.83. The company’s stock had a trading volume of 87,900 shares, compared to its average volume of 73,342. McGrath RentCorp has a 52 week low of $32.09 and a 52 week high of $49.66. The company has a market cap of $1,100.00, a P/E ratio of 24.20, a P/E/G ratio of 2.25 and a beta of 0.99.
McGrath RentCorp (NASDAQ:MGRC) last announced 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 company had revenue of $135.39 million during the quarter, compared to the consensus estimate of $124.90 million. During the same quarter last year, the company earned $0.54 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. sell-side analysts anticipate that McGrath RentCorp will post 2.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 17th were given a $0.26 dividend. The ex-dividend date was Monday, October 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.27%. McGrath RentCorp’s dividend payout ratio is currently 54.74%.
A number of analysts have issued reports on MGRC shares. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a report on Friday, November 3rd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of McGrath RentCorp in a report on Wednesday, November 1st. Finally, BidaskClub raised McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Saturday, August 5th.
In related news, VP Trease Kristina Van sold 1,043 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $39.82, for a total transaction of $41,532.26. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $755,504.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis P. Stradford sold 3,900 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total value of $192,699.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $247,050. The disclosure for this sale can be found here. Insiders sold a total of 11,343 shares of company stock valued at $488,965 in the last quarter. Corporate insiders own 4.60% of the company’s stock.
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).
Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with Analyst Ratings Network's FREE daily email newsletter.