Analysts expect McGrath RentCorp (NASDAQ:MGRC) to post $0.55 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for McGrath RentCorp’s earnings. The highest EPS estimate is $0.56 and the lowest is $0.53. McGrath RentCorp posted earnings per share of $0.40 during the same quarter last year, which would indicate a positive year-over-year growth rate of 37.5%. The company is scheduled to announce its next earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that McGrath RentCorp will report full-year earnings of $2.04 per share for the current fiscal year, with EPS estimates ranging from $2.03 to $2.05. For the next financial year, analysts forecast that the firm will report earnings of $2.23 per share, with EPS estimates ranging from $2.20 to $2.26. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover McGrath RentCorp.
McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.12. McGrath RentCorp had a net margin of 10.32% and a return on equity of 11.44%. The firm had revenue of $135.39 million for the quarter, compared to analyst estimates of $124.90 million. During the same period last year, the business earned $0.54 EPS. McGrath RentCorp’s revenue for the quarter was up 11.0% compared to the same quarter last year.
Shares of McGrath RentCorp (NASDAQ MGRC) opened at $49.25 on Monday. McGrath RentCorp has a one year low of $32.09 and a one year high of $50.69. The company has a market cap of $1,210.26, a price-to-earnings ratio of 25.92, a P/E/G ratio of 2.26 and a beta of 1.02.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, January 16th. This represents a $1.04 annualized dividend and a yield of 2.11%. McGrath RentCorp’s dividend payout ratio is currently 54.74%.
In other McGrath RentCorp news, CFO Keith E. Pratt sold 1,412 shares of McGrath RentCorp stock in a transaction on Monday, November 13th. The shares were sold at an average price of $46.01, for a total value of $64,966.12. Following the transaction, the chief financial officer now directly owns 28,118 shares in the company, valued at $1,293,709.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dennis P. Stradford sold 3,900 shares of McGrath RentCorp stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $49.41, for a total transaction of $192,699.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $247,050. The disclosure for this sale can be found here. Insiders have sold a total of 13,159 shares of company stock worth $628,935 over the last quarter. 4.60% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MGRC. Chartwell Investment Partners LLC increased its stake in McGrath RentCorp by 94.2% in the third quarter. Chartwell Investment Partners LLC now owns 216,385 shares of the financial services provider’s stock valued at $9,466,000 after purchasing an additional 104,973 shares during the period. HCSF Management LLC increased its stake in McGrath RentCorp by 36.9% in the second quarter. HCSF Management LLC now owns 387,830 shares of the financial services provider’s stock valued at $13,431,000 after purchasing an additional 104,610 shares during the period. SG Capital Management LLC acquired a new position in McGrath RentCorp in the third quarter valued at $1,934,000. Northern Trust Corp increased its stake in McGrath RentCorp by 8.9% in the second quarter. Northern Trust Corp now owns 511,116 shares of the financial services provider’s stock valued at $17,701,000 after purchasing an additional 41,984 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in McGrath RentCorp by 23.0% in the second quarter. Goldman Sachs Group Inc. now owns 196,166 shares of the financial services provider’s stock valued at $6,793,000 after purchasing an additional 36,623 shares during the period. Institutional investors own 82.61% of the company’s stock.
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McGrath RentCorp Company Profile
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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