McGrath RentCorp (MGRC) to Release Quarterly Earnings on Thursday

McGrath RentCorp (NASDAQ:MGRC) is set to announce its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $1.39 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.41). McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The firm had revenue of $212.60 million for the quarter, compared to analysts’ expectations of $210.23 million. During the same period in the prior year, the company earned $1.14 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts expect McGrath RentCorp to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

McGrath RentCorp Price Performance

Shares of NASDAQ MGRC opened at $105.98 on Wednesday. McGrath RentCorp has a one year low of $95.50 and a one year high of $130.86. The business’s fifty day moving average price is $105.64 and its 200-day moving average price is $107.46. The stock has a market capitalization of $2.60 billion, a PE ratio of 20.66, a P/E/G ratio of 1.85 and a beta of 0.75.

McGrath RentCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be issued a dividend of $0.475 per share. The ex-dividend date is Thursday, October 17th. This represents a $1.90 dividend on an annualized basis and a yield of 1.79%. McGrath RentCorp’s dividend payout ratio (DPR) is 37.04%.

Analysts Set New Price Targets

MGRC has been the topic of a number of recent research reports. Oppenheimer initiated coverage on McGrath RentCorp in a report on Wednesday, September 25th. They set an “outperform” rating and a $120.00 price objective on the stock. StockNews.com raised McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Tuesday.

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.