McGrath RentCorp (MGRC) to Release Quarterly Earnings on Thursday

McGrath RentCorp (NASDAQ:MGRC) is scheduled to post its quarterly earnings results after the market closes on Thursday, October 24th. Analysts expect McGrath RentCorp to post earnings of $1.39 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.41). McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. The company had revenue of $212.60 million for the quarter, compared to the consensus estimate of $210.23 million. During the same quarter in the previous year, the business earned $1.14 earnings per share. McGrath RentCorp’s revenue was up 4.7% compared to the same quarter last year. 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

MGRC opened at $105.98 on Wednesday. McGrath RentCorp has a 1 year low of $95.50 and a 1 year high of $130.86. The stock’s 50 day simple moving average is $105.64 and its 200 day simple moving average is $107.46. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.85 and a beta of 0.75.

McGrath RentCorp Dividend Announcement

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

Analysts Set New Price Targets

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

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.