McGrath RentCorp (NASDAQ:MGRC) Announces Earnings Results

McGrath RentCorp (NASDAQ:MGRC) released its quarterly earnings data on Thursday. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.41), Briefing.com reports. The business had revenue of $212.60 million for the quarter, compared to analyst estimates of $210.23 million. McGrath RentCorp had a return on equity of 13.42% and a net margin of 13.39%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 EPS.

McGrath RentCorp Stock Performance

Shares of McGrath RentCorp stock traded down $4.60 during mid-day trading on Friday, hitting $111.02. 375,179 shares of the stock were exchanged, compared to its average volume of 172,359. The company has a market capitalization 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 has a 50-day simple moving average of $108.09 and a 200 day simple moving average of $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 disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Wednesday, July 17th. McGrath RentCorp’s payout ratio is 37.04%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of McGrath RentCorp in a report on Sunday, July 21st. They issued a “hold” rating on the stock.

McGrath RentCorp Company Profile

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.