McGrath RentCorp (NASDAQ:MGRC) Releases Quarterly Earnings Results, Misses Expectations By $0.41 EPS

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

McGrath RentCorp Stock Performance

Shares of NASDAQ:MGRC traded down $4.60 on Friday, hitting $111.02. 375,179 shares of the company were exchanged, compared to its average volume of 172,359. The company’s 50 day moving average price is $108.09 and its two-hundred day moving average price is $114.63. McGrath RentCorp has a one year low of $89.91 and a one year high of $130.86. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 1.55 and a beta of 0.77.

McGrath RentCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $1.90 annualized dividend and a dividend yield of 1.71%. McGrath RentCorp’s payout ratio is 37.04%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed 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.