McGrath RentCorp (NASDAQ:MGRC) Issues Earnings Results

McGrath RentCorp (NASDAQ:MGRC) released its quarterly earnings data on Thursday. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.20, Briefing.com reports. The company had revenue of $187.80 million for the quarter, compared to the consensus estimate of $145.63 million. McGrath RentCorp had a return on equity of 13.63% and a net margin of 20.99%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share.

McGrath RentCorp Price Performance

Shares of MGRC traded up $1.88 on Friday, hitting $111.18. The company’s stock had a trading volume of 94,622 shares, compared to its average volume of 313,259. The company has a market capitalization of $2.73 billion, a PE ratio of 15.61, a PEG ratio of 1.54 and a beta of 0.80. McGrath RentCorp has a fifty-two week low of $86.26 and a fifty-two week high of $130.86. The company has a 50 day moving average price of $120.04 and a 200 day moving average price of $113.27.

McGrath RentCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.71%. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, April 15th. McGrath RentCorp’s dividend payout ratio is currently 26.69%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on McGrath RentCorp in a research report on Saturday, April 20th. 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.