McGrath RentCorp (NASDAQ:MGRC) Posts Quarterly Earnings Results

McGrath RentCorp (NASDAQ:MGRC) posted its earnings results on Thursday. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20, Briefing.com reports. The business had revenue of $187.80 million for the quarter, compared to analysts’ expectations of $145.63 million. McGrath RentCorp had a return on equity of 13.63% and a net margin of 20.99%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share.

McGrath RentCorp Stock Performance

NASDAQ:MGRC traded up $1.53 during mid-day trading on Friday, reaching $110.83. The stock had a trading volume of 88,547 shares, compared to its average volume of 313,194. The business has a 50 day simple moving average of $120.04 and a 200 day simple moving average of $113.27. The firm has a market capitalization 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 twelve month low of $86.26 and a twelve month high of $130.86.

McGrath RentCorp Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on McGrath RentCorp in a research note on Saturday, April 20th. They issued a “hold” rating for the company.

About McGrath RentCorp

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.