McGrath RentCorp (NASDAQ:MGRC) Issues Earnings Results

McGrath RentCorp (NASDAQ:MGRC) released its earnings results 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 net margin of 20.99% and a return on equity of 13.63%. The company had revenue of $187.80 million for the quarter, compared to analysts’ expectations of $145.63 million. During the same quarter in the previous year, the company earned $0.89 EPS. McGrath RentCorp’s revenue for the quarter was up 14.7% on a year-over-year basis.

McGrath RentCorp Stock Up 1.4 %

McGrath RentCorp stock traded up $1.53 during mid-day trading on Friday, reaching $110.83. 88,547 shares of the company’s stock traded hands, compared to its average volume of 313,194. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.54 and a beta of 0.80. McGrath RentCorp has a 12-month low of $86.26 and a 12-month high of $130.86. The stock has a 50 day moving average of $120.04 and a two-hundred day moving average of $113.27.

McGrath RentCorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 1.71%. The ex-dividend date is Monday, April 15th. This is a boost from McGrath RentCorp’s previous quarterly dividend of $0.47. McGrath RentCorp’s payout ratio is currently 26.69%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on McGrath RentCorp in a research note on Saturday, April 20th. They set a “hold” rating on the 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.