StockNews.com started coverage on shares of McGrath RentCorp (NASDAQ:MGRC – Free Report) in a research report released on Monday. The brokerage issued a hold rating on the financial services provider’s stock.
McGrath RentCorp Stock Performance
NASDAQ MGRC opened at $109.83 on Monday. The company has a market capitalization of $2.70 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.66 and a beta of 0.82. The company has a 50-day simple moving average of $116.70 and a 200 day simple moving average of $113.78. McGrath RentCorp has a 52-week low of $87.72 and a 52-week high of $130.86.
McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20. McGrath RentCorp had a return on equity of 13.43% and a net margin of 14.70%. The firm had revenue of $187.80 million during the quarter, compared to analyst estimates of $145.63 million. During the same period last year, the company earned $0.89 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, analysts forecast that McGrath RentCorp will post 5.05 EPS for the current fiscal year.
McGrath RentCorp Increases Dividend
Hedge Funds Weigh In On McGrath RentCorp
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Adirondack Trust Co. purchased a new position in McGrath RentCorp in the 3rd quarter worth $50,000. Global Retirement Partners LLC bought a new stake in McGrath RentCorp during the 1st quarter valued at approximately $66,000. SG Americas Securities LLC bought a new stake in shares of McGrath RentCorp during the first quarter valued at approximately $171,000. TFG Advisers LLC purchased a new stake in shares of McGrath RentCorp in the 1st quarter worth about $203,000. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of McGrath RentCorp during the first quarter valued at approximately $210,000. Hedge funds and other institutional investors 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.
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