McGrath RentCorp (MGRC) Scheduled to Post Earnings on Thursday

Posted by Defense World Staff on Oct 19th, 2023

McGrath RentCorp (NASDAQ:MGRC – Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, October 26th. Analysts expect the company to announce earnings of $1.17 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 – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.18. McGrath RentCorp had a return on equity of 14.47% and a net margin of 22.16%. The company had revenue of $203.03 million for the quarter, compared to analysts’ expectations of $191.80 million. On average, analysts expect McGrath RentCorp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

McGrath RentCorp Stock Performance

Shares of MGRC stock opened at $100.45 on Thursday. McGrath RentCorp has a 1 year low of $83.76 and a 1 year high of $111.70. The stock has a market cap of $2.46 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.13 and a beta of 0.77. The business’s fifty day moving average is $100.62 and its 200-day moving average is $95.03.

McGrath RentCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 17th will be given a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, October 16th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 26.42%.

Wall Street Analysts Forecast Growth

MGRC has been the topic of several research analyst reports. Oppenheimer lifted their price target on McGrath RentCorp from $114.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday, October 6th. StockNews.com began coverage on McGrath RentCorp in a report on Thursday, October 5th. They issued a “hold” rating on the stock.

Check Out Our Latest Stock Analysis on MGRC

Insider Buying and Selling

In other news, VP Philip B. Hawkins sold 2,607 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $98.72, for a total value of $257,363.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Philip B. Hawkins sold 2,607 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $98.72, for a total value of $257,363.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth A. Fetter sold 430 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $102.59, for a total value of $44,113.70. Following the completion of the sale, the director now directly owns 4,770 shares of the company’s stock, valued at approximately $489,354.30. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Trading of McGrath RentCorp

Institutional investors have recently bought and sold shares of the company. Dark Forest Capital Management LP boosted its position in McGrath RentCorp by 210.0% during the first quarter. Dark Forest Capital Management LP now owns 310 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 210 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in McGrath RentCorp during the first quarter valued at $51,000. Tower Research Capital LLC TRC boosted its position in McGrath RentCorp by 211.3% during the first quarter. Tower Research Capital LLC TRC now owns 607 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 412 shares during the last quarter. FMR LLC boosted its position in McGrath RentCorp by 14.1% during the second quarter. FMR LLC now owns 978 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 121 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in McGrath RentCorp during the second quarter valued at $90,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

About McGrath RentCorp

(Get Free Report)

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, electronic test equipment, and liquid and solid containment tanks and boxes. The company operates through Mobile Modular, TRS-RenTelco, and Enviroplex segments.