Analysts Expect McGrath RentCorp (NASDAQ:MGRC) to Post $0.73 EPS

Shares of McGrath RentCorp (NASDAQ:MGRC) have been given a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Analysts have set a one year consensus target price of $70.00 for the company and are forecasting that the company will post $0.73 EPS for the current quarter, according to Zacks. Zacks has also given McGrath RentCorp an industry rank of 14 out of 256 based on the ratings given to related companies.

A number of research analysts recently issued reports on MGRC shares. BidaskClub raised McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Zacks Investment Research upgraded McGrath RentCorp from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Saturday, May 4th.

In related news, CFO Keith E. Pratt sold 962 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $64.20, for a total transaction of $61,760.40. Following the completion of the sale, the chief financial officer now directly owns 26,563 shares in the company, valued at approximately $1,705,344.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Keith E. Pratt sold 512 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $62.03, for a total value of $31,759.36. Following the sale, the vice president now owns 27,494 shares of the company’s stock, valued at $1,705,452.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,575 shares of company stock valued at $416,974. 2.00% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Burney Co. lifted its position in shares of McGrath RentCorp by 5.3% during the 1st quarter. Burney Co. now owns 106,827 shares of the financial services provider’s stock worth $6,043,000 after buying an additional 5,338 shares during the last quarter. SG Capital Management LLC lifted its position in shares of McGrath RentCorp by 45.4% during the 1st quarter. SG Capital Management LLC now owns 230,366 shares of the financial services provider’s stock worth $13,032,000 after buying an additional 71,960 shares during the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of McGrath RentCorp during the 4th quarter worth $777,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of McGrath RentCorp during the 4th quarter worth $227,000. Finally, Rhumbline Advisers lifted its position in shares of McGrath RentCorp by 7.4% during the 1st quarter. Rhumbline Advisers now owns 48,890 shares of the financial services provider’s stock worth $2,766,000 after buying an additional 3,354 shares during the last quarter. Institutional investors and hedge funds own 83.97% of the company’s stock.

NASDAQ:MGRC traded up $0.24 during mid-day trading on Friday, reaching $62.15. The stock had a trading volume of 505,600 shares, compared to its average volume of 106,205. The company has a 50 day moving average of $59.41. McGrath RentCorp has a fifty-two week low of $45.85 and a fifty-two week high of $65.81. The company has a market cap of $1.48 billion, a PE ratio of 19.86, a P/E/G ratio of 1.80 and a beta of 0.77.

McGrath RentCorp (NASDAQ:MGRC) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.62 by $0.13. McGrath RentCorp had a return on equity of 14.86% and a net margin of 16.18%. The company had revenue of $122.00 million for the quarter, compared to the consensus estimate of $113.87 million. During the same quarter last year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, analysts predict that McGrath RentCorp will post 3.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $1.50 annualized dividend and a dividend yield of 2.41%. McGrath RentCorp’s dividend payout ratio is currently 47.92%.

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, electronic test equipment, and liquid and solid containment tanks and boxes. The company operates in four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

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