Press coverage about McGrath RentCorp (NASDAQ:MGRC) has trended positive on Friday, according to Alpha One Sentiment. Alpha One, a subsidiary of Accern, rates the sentiment of press coverage by monitoring more than 20 million blog and news sources in real time. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. McGrath RentCorp earned a media sentiment score of 0.29 on Alpha One’s scale. Alpha One also gave news stories about the financial services provider an impact score of 27 out of 100, indicating that recent press coverage is unlikely to have an effect on the stock’s share price in the near future.
These are some of the media headlines that may have effected AlphaOne Sentiment’s scoring:
- ETFs with exposure to McGrath RentCorp : June 15, 2017 (finance.yahoo.com)
- 50 ‘Safer’ Dividend Champions Show Positive Returns And Cash To Cover Dividends For June (seekingalpha.com)
- 10 ‘Safer’ Dividend Achiever Dogs To Gain Big Per Analyst June Targets (seekingalpha.com)
- McGrath RentCorp breached its 50 day moving average in a Bullish Manner : MGRC-US : June 12, 2017 (finance.yahoo.com)
- Short Interest in McGrath RentCorp (MGRC) Increases By 5.5% (americanbankingnews.com)
Separately, Zacks Investment Research upgraded shares of McGrath RentCorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Thursday.
McGrath RentCorp (NASDAQ MGRC) traded up 1.28% during trading on Friday, hitting $34.12. 165,065 shares of the company’s stock traded hands. McGrath RentCorp has a 52-week low of $28.88 and a 52-week high of $39.86. The company has a market cap of $818.23 million, a PE ratio of 20.58 and a beta of 0.98. The company’s 50 day moving average price is $34.43 and its 200 day moving average price is $35.93.
McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Tuesday, May 2nd. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. McGrath RentCorp had a return on equity of 10.14% and a net margin of 9.33%. The firm had revenue of $94.84 million during the quarter, compared to analyst estimates of $95.10 million. Analysts expect that McGrath RentCorp will post $1.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 17th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, July 13th. McGrath RentCorp’s dividend payout ratio (DPR) is currently 63.03%.
In related news, CEO Joseph F. Hanna sold 6,000 shares of McGrath RentCorp stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $34.55, for a total value of $207,300.00. Following the completion of the sale, the chief executive officer now owns 30,087 shares of the company’s stock, valued at approximately $1,039,505.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Philip B. Hawkins sold 1,500 shares of McGrath RentCorp stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $36.00, for a total value of $54,000.00. Following the completion of the sale, the vice president now directly owns 3,624 shares of the company’s stock, valued at approximately $130,464. The disclosure for this sale can be found here. In the last three months, insiders sold 12,500 shares of company stock valued at $442,090. 5.00% of the stock is currently owned by insiders.
TRADEMARK VIOLATION NOTICE: “Favorable News Coverage Unlikely to Affect McGrath RentCorp (MGRC) Share Price” was first posted by WKRB News and is the sole property of of WKRB News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://www.wkrb13.com/markets/2229325/favorable-news-coverage-unlikely-to-affect-mcgrath-rentcorp-mgrc-share-price.html.
McGrath RentCorp Company Profile
McGrath RentCorp is a diversified business-to-business rental company. The Company operates through four business segments: modular building and portable storage segment (Mobile Modular); electronic test equipment segment (TRS-RenTelco); a subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks), and a subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex).
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2229325/favorable-news-coverage-unlikely-to-affect-mcgrath-rentcorp-mgrc-share-price.html
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.com's FREE daily email newsletter.