Somewhat Positive Press Coverage Somewhat Unlikely to Affect McGrath RentCorp (MGRC) Share Price
News coverage about McGrath RentCorp (NASDAQ:MGRC) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of press coverage by analyzing more than twenty million blog and news 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 media sentiment score of 0.14 on Accern’s scale. Accern also gave media headlines about the financial services provider an impact score of 46.8714498386673 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news stories that may have effected Accern Sentiment’s analysis:
- McGrath RentCorp (NASDAQ:MGRC) VP Sells $132,820.53 in Stock (americanbankingnews.com)
- Financial Analysis: Air Lease Corporation (AL) and McGrath RentCorp (MGRC) (americanbankingnews.com)
- Financial Contrast: Air Lease Corporation (AL) versus McGrath RentCorp (NASDAQ:MGRC) (americanbankingnews.com)
- Q3 2017 Earnings Estimate for McGrath RentCorp (NASDAQ:MGRC) Issued By KeyCorp (americanbankingnews.com)
- McGrath RentCorp (NASDAQ:MGRC) Upgraded by Zacks Investment Research to “Buy” (americanbankingnews.com)
McGrath RentCorp (NASDAQ:MGRC) opened at 38.49 on Friday. McGrath RentCorp has a 52-week low of $29.27 and a 52-week high of $41.61. The firm’s 50-day moving average is $35.59 and its 200-day moving average is $35.18. The firm has a market capitalization of $923.49 million, a PE ratio of 22.01 and a beta of 0.97.
McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. McGrath RentCorp had a net margin of 9.74% and a return on equity of 10.62%. The firm had revenue of $109.58 million for the quarter, compared to analyst estimates of $105.36 million. During the same period last year, the firm posted $0.38 EPS. McGrath RentCorp’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts anticipate that McGrath RentCorp will post $1.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were given a $0.26 dividend. The ex-dividend date was Thursday, July 13th. This represents a $1.04 dividend on an annualized basis and a yield of 2.70%. McGrath RentCorp’s dividend payout ratio (DPR) is 59.43%.
A number of equities analysts have weighed in on MGRC shares. Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Friday, May 5th. BidaskClub cut shares of McGrath RentCorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
In other McGrath RentCorp news, Director Elizabeth A. Fetter sold 2,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $36.02, for a total transaction of $72,040.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $194,508. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Keith E. Pratt sold 3,261 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.73, for a total transaction of $132,820.53. Following the sale, the vice president now owns 26,000 shares in the company, valued at $1,058,980. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.
McGrath RentCorp Company Profile
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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