McGrath RentCorp (MGRC) Receiving Somewhat Favorable Press Coverage, Analysis Shows
Headlines about McGrath RentCorp (NASDAQ:MGRC) have been trending somewhat positive this week, according to Accern Sentiment. The research firm scores the sentiment of press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. McGrath RentCorp earned a coverage optimism score of 0.13 on Accern’s scale. Accern also assigned press coverage about the financial services provider an impact score of 46.5834441240029 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
A number of research analysts have issued reports on MGRC shares. BidaskClub cut shares of McGrath RentCorp from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. ValuEngine cut shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Oppenheimer reaffirmed a “hold” rating on shares of McGrath RentCorp in a report on Wednesday, November 1st. Finally, Zacks Investment Research raised shares of McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 target price for the company in a report on Friday, November 3rd.
McGrath RentCorp (MGRC) opened at $46.83 on Wednesday. McGrath RentCorp has a 1-year low of $32.09 and a 1-year high of $49.66. The stock has a market cap of $1,130.95, a PE ratio of 24.65, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02.
McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $135.39 million during the quarter, compared to analysts’ expectations of $124.90 million. During the same period last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. analysts predict that McGrath RentCorp will post 2.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, January 16th. This represents a $1.04 dividend on an annualized basis and a yield of 2.22%. McGrath RentCorp’s dividend payout ratio (DPR) is presently 54.74%.
In other news, CFO Keith E. Pratt sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $46.01, for a total transaction of $64,966.12. Following the completion of the transaction, the chief financial officer now directly owns 28,118 shares of the company’s stock, valued at approximately $1,293,709.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William J. Dawson sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.83, for a total transaction of $191,320.00. Following the transaction, the director now directly owns 15,543 shares of the company’s stock, valued at $743,421.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,159 shares of company stock valued at $628,935. 4.60% of the stock is currently owned by corporate insiders.
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About McGrath RentCorp
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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