McGrath RentCorp (MGRC) To Go Ex-Dividend on April 16th

McGrath RentCorp (NASDAQ:MGRC) declared a quarterly dividend on Wednesday, February 25th. Stockholders of record on Thursday, April 16th will be given a dividend of 0.495 per share by the financial services provider on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, April 16th. This is a 2.1% increase from McGrath RentCorp’s previous quarterly dividend of $0.49.

McGrath RentCorp has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 33 consecutive years. McGrath RentCorp has a dividend payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect McGrath RentCorp to earn $6.87 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 28.2%.

McGrath RentCorp Trading Down 0.7%

Shares of NASDAQ:MGRC opened at $114.93 on Friday. The stock has a 50 day moving average of $112.06 and a 200 day moving average of $113.09. The company has a market cap of $2.83 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 1.13 and a beta of 0.51. McGrath RentCorp has a 12-month low of $94.99 and a 12-month high of $128.41.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Wednesday, February 25th. The financial services provider reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.28. The company had revenue of $256.76 million for the quarter, compared to analysts’ expectations of $254.32 million. McGrath RentCorp had a net margin of 16.55% and a return on equity of 13.41%. Equities research analysts predict that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MGRC has been the topic of a number of recent analyst reports. Zacks Research raised McGrath RentCorp from a “strong sell” rating to a “hold” rating in a report on Thursday, January 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of McGrath RentCorp in a research note on Tuesday, January 27th. Finally, Barclays assumed coverage on McGrath RentCorp in a report on Wednesday, February 11th. They issued an “overweight” rating and a $140.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $141.50.

McGrath RentCorp Company Profile

McGrath RentCorp, through its subsidiaries, provides rental, sales, and servicing of equipment for commercial, industrial, environmental, and residential markets. The company operates primarily through two segments—mobile storage and water management—offering flexible solutions for customers requiring on-site storage, water transport, treatment, and dewatering services.

In its mobile storage segment, McGrath RentCorp supplies portable storage containers and modular office units to sectors including construction, retail, government, and disaster restoration.