McGrath RentCorp (NASDAQ:MGRC) Posts Earnings Results

McGrath RentCorp (NASDAQ:MGRC) issued its quarterly earnings results on Thursday. The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.41), Briefing.com reports. McGrath RentCorp had a return on equity of 13.42% and a net margin of 13.39%. The business 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 company’s revenue for the quarter was up 4.7% compared to the same quarter last year.

McGrath RentCorp Stock Performance

Shares of MGRC traded down $4.60 during trading hours on Friday, hitting $111.02. The stock had a trading volume of 375,179 shares, compared to its average volume of 172,359. The firm has a market cap of $2.73 billion, a P/E ratio of 21.64, a P/E/G ratio of 1.55 and a beta of 0.77. The company’s fifty day simple moving average is $108.09 and its 200 day simple moving average is $114.63. McGrath RentCorp has a 12-month low of $89.91 and a 12-month high of $130.86.

McGrath RentCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Wednesday, July 17th. McGrath RentCorp’s dividend payout ratio (DPR) is currently 37.04%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on McGrath RentCorp in a research note on Sunday, July 21st. They set 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.