Shares of McGrath RentCorp (NASDAQ:MGRC) have received a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. McGrath RentCorp’s rating score has declined by 19.8% in the last three months as a result of various analysts’ upgrades and downgrades.
Brokerages have set a twelve-month consensus price objective of $86.00 for the company and are forecasting that the company will post $0.88 EPS for the current quarter, according to Zacks. Zacks has also assigned McGrath RentCorp an industry rank of 30 out of 255 based on the ratings given to related companies.
MGRC has been the topic of several research analyst reports. ValuEngine upgraded shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $90.00 price target on the stock in a research note on Friday, November 1st. Sidoti lifted their price target on shares of McGrath RentCorp from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, BidaskClub upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th.
A number of hedge funds and other institutional investors have recently bought and sold shares of MGRC. Nuveen Asset Management LLC acquired a new position in McGrath RentCorp in the second quarter valued at $10,288,000. Allianz Asset Management GmbH increased its stake in McGrath RentCorp by 54.3% in the second quarter. Allianz Asset Management GmbH now owns 314,026 shares of the financial services provider’s stock valued at $19,516,000 after purchasing an additional 110,491 shares during the period. BlackRock Inc. increased its stake in McGrath RentCorp by 4.0% in the second quarter. BlackRock Inc. now owns 2,250,023 shares of the financial services provider’s stock valued at $139,840,000 after purchasing an additional 86,696 shares during the period. SG Capital Management LLC increased its stake in McGrath RentCorp by 35.7% in the second quarter. SG Capital Management LLC now owns 312,611 shares of the financial services provider’s stock valued at $19,429,000 after purchasing an additional 82,245 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in McGrath RentCorp by 25.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 270,156 shares of the financial services provider’s stock valued at $16,790,000 after purchasing an additional 55,083 shares during the period. Institutional investors own 85.49% of the company’s stock.
Shares of NASDAQ MGRC traded down $1.06 during midday trading on Monday, reaching $73.73. 118,800 shares of the stock were exchanged, compared to its average volume of 102,473. The company has a 50 day simple moving average of $69.47 and a 200 day simple moving average of $64.45. McGrath RentCorp has a twelve month low of $48.20 and a twelve month high of $80.47. The stock has a market capitalization of $1.83 billion, a P/E ratio of 23.56, a PEG ratio of 2.01 and a beta of 0.79.
McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.30. McGrath RentCorp had a net margin of 17.02% and a return on equity of 16.03%. The firm had revenue of $173.60 million for the quarter, compared to analyst estimates of $150.77 million. During the same period last year, the business earned $1.01 EPS. McGrath RentCorp’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, research analysts predict that McGrath RentCorp will post 3.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th were paid a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $1.50 dividend on an annualized basis and a yield of 2.03%. McGrath RentCorp’s dividend payout ratio is presently 47.92%.
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, electronic test equipment, and liquid and solid containment tanks and boxes. The company operates in four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
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