2 weeks Ago By ABMN Staff
StockNews.com downgraded shares of McGrath RentCorp ( NASDAQ:MGRC – Free Report ) from a hold rating to a sell rating in a research report sent to investors on Friday morning. Separately, Oppenheimer began coverage on shares of McGrath RentCorp in a research report on Wednesday.
They set an outperform rating and a $120.00 price objective on the stock. Read Our Latest Stock Report on McGrath RentCorp McGrath RentCorp Price Performance McGrath RentCorp ( NASDAQ:MGRC – Get Free Report ) last released its earnings results on Thursday, July 25th.
The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.
41). The business had revenue of $212.60 million during the quarter, compared to analysts’ expectations of $210.
23 million. McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.
39%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year.
During the same period in the prior year, the company earned $1.14 earnings per share. Equities analysts anticipate that McGrath RentCorp will post 5.
45 EPS 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. Investors 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 yield of 1.
76%. The ex-dividend date of this dividend is Thursday, October 17th. McGrath RentCorp’s dividend payout ratio (DPR) is 37.
04%. Institutional Trading of McGrath RentCorp Several institutional investors have recently bought and sold shares of the company. Magnetar Financial LLC purchased a new stake in shares of McGrath RentCorp during the 1st quarter valued at about $84,042,000.
Capital Research Global Investors purchased a new stake in shares of McGrath RentCorp during the 4th quarter valued at about $55,950,000. Public Employees Retirement Association of Colorado boosted its holdings in shares of McGrath RentCorp by 3,216.2% during the 4th quarter.
Public Employees Retirement Association of Colorado now owns 248,844 shares of the financial services provider’s stock valued at $29,767,000 after acquiring an additional 241,340 shares during the last quarter. Vaughan Nelson Investment Management L.P.
boosted its holdings in shares of McGrath RentCorp by 82.3% during the 1st quarter. Vaughan Nelson Investment Management L.
P. now owns 385,980 shares of the financial services provider’s stock valued at $47,619,000 after acquiring an additional 174,240 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of McGrath RentCorp during the 4th quarter valued at about $19,469,000.
92.05% of the stock is owned by hedge funds and other institutional investors. McGrath RentCorp Company Profile ( Get Free Report ) 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. Read More Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.
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