McGrath RentCorp (NASDAQ:MGRC) Releases Earnings Results, Misses Expectations By $0.41 EPS

McGrath RentCorp (NASDAQ:MGRC) released its quarterly earnings data on Thursday. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.41), Briefing.com reports. The business had revenue of $212.60 million for the quarter, compared to the consensus estimate of $210.23 million. McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.42%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS.

McGrath RentCorp Stock Down 4.0 %

MGRC traded down $4.60 during trading hours on Friday, hitting $111.02. 375,179 shares of the company’s stock were exchanged, compared to its average volume of 172,359. McGrath RentCorp has a 1-year low of $89.91 and a 1-year high of $130.86. The stock’s 50-day moving average is $108.09 and its two-hundred day moving average is $114.63. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 1.55 and a beta of 0.77.

McGrath RentCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $1.90 annualized dividend and a dividend yield of 1.71%. McGrath RentCorp’s dividend payout ratio is currently 37.04%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of McGrath RentCorp in a report on Sunday, July 21st. They set 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.