Media coverage about McGrath RentCorp (NASDAQ:MGRC) has trended somewhat positive on Thursday, according to Accern. The research firm identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. McGrath RentCorp earned a news sentiment score of 0.13 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 45.9197437034083 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the media headlines that may have effected Accern’s scoring:
- McGrath RentCorp Declares Quarterly Dividend (finance.yahoo.com)
- McGrath RentCorp (MGRC) Receives Consensus Recommendation of “Hold” from Brokerages (americanbankingnews.com)
- Brokerages Anticipate McGrath RentCorp (MGRC) Will Post Quarterly Sales of $113.50 Million (americanbankingnews.com)
- McGrath RentCorp (MGRC) Rating Lowered to Hold at ValuEngine (americanbankingnews.com)
- Zacks: Brokerages Expect McGrath RentCorp (MGRC) Will Announce Earnings of $0.55 Per Share (americanbankingnews.com)
MGRC has been the subject of a number of research analyst reports. Zacks Investment Research downgraded McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Oppenheimer reaffirmed a “hold” rating on shares of McGrath RentCorp in a research report on Wednesday, November 1st. Finally, ValuEngine downgraded McGrath RentCorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.12. The company had revenue of $135.39 million during the quarter, compared to the consensus estimate of $124.90 million. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. McGrath RentCorp’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. analysts predict that McGrath RentCorp will post 2.04 EPS for the current fiscal year.
In related news, Director Dennis P. Stradford sold 3,900 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total transaction of $192,699.00. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $247,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J. Dawson sold 4,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.83, for a total value of $191,320.00. Following the sale, the director now directly owns 15,543 shares of the company’s stock, valued at $743,421.69. The disclosure for this sale can be found here. Insiders have sold 13,159 shares of company stock valued at $628,935 over the last ninety days. 4.60% of the stock is currently owned by company insiders.
About McGrath RentCorp
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
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