StockNews.com began coverage on shares of McGrath RentCorp (NASDAQ:MGRC – Free Report) in a research note issued to investors on Thursday. The firm issued a hold rating on the financial services provider’s stock.
McGrath RentCorp Stock Performance
Shares of MGRC opened at $106.55 on Thursday. McGrath RentCorp has a 52-week low of $88.63 and a 52-week high of $130.86. The business’s 50 day moving average price is $108.04 and its two-hundred day moving average price is $115.65. The firm has a market cap of $2.62 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79.
McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.20. McGrath RentCorp had a return on equity of 13.43% and a net margin of 14.70%. The firm had revenue of $187.80 million for the quarter, compared to analyst estimates of $145.63 million. During the same period in the previous year, the firm earned $0.89 earnings per share. The company’s revenue was up 14.7% compared to the same quarter last year. Research analysts predict that McGrath RentCorp will post 5.5 EPS for the current fiscal year.
McGrath RentCorp Announces Dividend
Hedge Funds Weigh In On McGrath RentCorp
Several large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new stake in shares of McGrath RentCorp during the 1st quarter valued at $66,000. SG Americas Securities LLC purchased a new position in McGrath RentCorp during the 1st quarter valued at about $171,000. TFG Advisers LLC purchased a new position in McGrath RentCorp during the 1st quarter valued at about $203,000. J.W. Cole Advisors Inc. purchased a new position in McGrath RentCorp during the 1st quarter valued at about $210,000. Finally, Meeder Asset Management Inc. purchased a new position in McGrath RentCorp during the 1st quarter valued at about $213,000. 92.05% of the stock is currently owned by institutional investors.
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.
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