McGrath RentCorp (NASDAQ:MGRC) Releases Earnings Results, Beats Estimates By $0.08 EPS

McGrath RentCorp (NASDAQ:MGRC) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08, Zacks reports. The company had revenue of $243.75 million for the quarter, compared to analyst estimates of $246.93 million. McGrath RentCorp had a net margin of 25.44% and a return on equity of 14.12%. McGrath RentCorp updated its FY 2025 guidance to EPS.

McGrath RentCorp Price Performance

Shares of MGRC stock opened at $128.06 on Friday. McGrath RentCorp has a 12 month low of $95.50 and a 12 month high of $129.93. The firm has a market capitalization of $3.14 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.25 and a beta of 0.77. The company’s fifty day moving average price is $117.76 and its two-hundred day moving average price is $112.93.

McGrath RentCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.485 per share. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, April 16th. McGrath RentCorp’s payout ratio is presently 20.15%.

Analysts Set New Price Targets

MGRC has been the subject of a number of research analyst reports. Oppenheimer raised their price target on McGrath RentCorp from $124.00 to $139.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. CJS Securities initiated coverage on McGrath RentCorp in a research report on Wednesday, December 11th. They set an “outperform” rating and a $152.00 price objective for the company. Finally, StockNews.com cut shares of McGrath RentCorp from a “buy” rating to a “hold” rating in a research note on Thursday.

Insider Activity at McGrath RentCorp

In other news, VP Gilda Malek sold 919 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.78, for a total transaction of $111,915.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s 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.