McGrath RentCorp (NASDAQ:MGRC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of McGrath RentCorp (NASDAQ:MGRC) from a sell rating to a hold rating in a report published on Thursday.

McGrath RentCorp Stock Up 0.1 %

NASDAQ MGRC opened at $99.30 on Thursday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.46 and a beta of 0.76. McGrath RentCorp has a twelve month low of $95.50 and a twelve month high of $130.86. The stock has a fifty day simple moving average of $105.98 and a 200 day simple moving average of $109.66.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.41). The company had revenue of $212.60 million for the quarter, compared to the consensus estimate of $210.23 million. McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. McGrath RentCorp’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 earnings per share. Research analysts expect that McGrath RentCorp will post 5.45 earnings per share for the current fiscal year.

McGrath RentCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, October 17th. McGrath RentCorp’s dividend payout ratio (DPR) is presently 37.04%.

Hedge Funds Weigh In On McGrath RentCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of McGrath RentCorp in the 1st quarter worth about $171,000. TFG Advisers LLC acquired a new position in McGrath RentCorp in the first quarter valued at approximately $203,000. J.W. Cole Advisors Inc. bought a new position in shares of McGrath RentCorp during the 1st quarter worth approximately $210,000. Meeder Asset Management Inc. acquired a new stake in shares of McGrath RentCorp during the 1st quarter worth approximately $213,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of McGrath RentCorp in the 4th quarter valued at $217,000. Institutional investors and hedge funds own 92.05% 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.