McGrath RentCorp (MGRC) To Go Ex-Dividend on October 16th

McGrath RentCorp (NASDAQ:MGRC) announced a quarterly dividend on Friday, September 18th. Investors of record on Friday, October 16th will be paid a dividend of $0.4950 per share by the financial services provider on Friday, October 30th. This represents a $1.98 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 16th.

McGrath RentCorp has a dividend payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect McGrath RentCorp to earn $7.04 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 28.1%.

McGrath RentCorp Stock Up 1.6%

Shares of MGRC stock opened at $114.64 on Wednesday. The firm has a 50 day moving average price of $114.71 and a two-hundred day moving average price of $114.58. The company has a market capitalization of $2.80 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.14 and a beta of 0.47. McGrath RentCorp has a 12-month low of $94.99 and a 12-month high of $125.83.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). McGrath RentCorp had a return on equity of 12.44% and a net margin of 16.38%. The firm had revenue of $221.11 million for the quarter, compared to the consensus estimate of $236.51 million. As a group, research analysts expect that McGrath RentCorp will post 6.37 EPS for the current year.

About McGrath RentCorp

McGrath RentCorp was a business-to-business rental company headquartered in Livermore, California. The company provided temporary and longer-term rental solutions for modular buildings, portable storage, electronic test equipment and related products, serving customers in the education, government, construction, commercial and industrial sectors.

Its Mobile Modular business supplied relocatable classrooms, office buildings and other modular structures, while its TRS-RenTelco operation rented electronic test and measurement equipment used by telecommunications, electronics, aerospace and other industrial customers.