McGrath RentCorp (NASDAQ:MGRC) Releases Quarterly Earnings Results, Beats Expectations By $0.52 EPS
McGrath RentCorp (NASDAQ:MGRC) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.52, Briefing.com reports. The business had revenue of $137.67 million during the quarter, compared to the consensus estimate of $113.50 million. McGrath RentCorp had a return on equity of 15.89% and a net margin of 17.05%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. McGrath RentCorp updated its Q3 2020
After-Hours guidance to EPS.
Shares of NASDAQ MGRC traded up $3.94 during mid-day trading on Thursday, hitting $62.26. 90,404 shares of the company were exchanged, compared to its average volume of 95,209. The stock has a 50 day simple moving average of $53.70 and a 200-day simple moving average of $60.40. McGrath RentCorp has a 1-year low of $44.32 and a 1-year high of $83.95. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.35 and a beta of 0.90.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, July 16th. McGrath RentCorp’s dividend payout ratio is presently 42.75%.
About McGrath RentCorp
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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