McGrath RentCorp (NASDAQ:MGRC) Issues Earnings Results

McGrath RentCorp (NASDAQ:MGRC) issued 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. McGrath RentCorp had a return on equity of 13.56% and a net margin of 14.70%. The company had revenue of $187.80 million during the quarter, compared to analysts’ expectations of $145.63 million. During the same quarter in the previous year, the business earned $0.89 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis.

McGrath RentCorp Price Performance

McGrath RentCorp stock opened at $111.71 on Friday. McGrath RentCorp has a 12 month low of $86.26 and a 12 month high of $130.86. The business has a 50 day simple moving average of $119.70 and a 200-day simple moving average of $113.41. The stock has a market capitalization of $2.74 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 1.59 and a beta of 0.80.

McGrath RentCorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders 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 dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, April 15th. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.47. McGrath RentCorp’s dividend payout ratio is 37.04%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on McGrath RentCorp in a research note on Sunday. They issued a “hold” rating for the company.

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.