StockNews.com cut shares of McGrath RentCorp (NASDAQ:MGRC – Free Report) from a hold rating to a sell rating in a research report sent to investors on Wednesday.
McGrath RentCorp Trading Down 0.6 %
Shares of MGRC opened at $103.40 on Wednesday. The business’s 50 day moving average is $106.68 and its 200 day moving average is $110.88. The company has a market capitalization of $2.54 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.76. McGrath RentCorp has a 12-month low of $95.71 and a 12-month high of $130.86.
McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.41). The business had revenue of $212.60 million for the quarter, compared to the consensus estimate of $210.23 million. McGrath RentCorp had a net margin of 13.39% and a return on equity of 13.33%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. Equities research analysts predict that McGrath RentCorp will post 5.45 earnings per share for the current year.
McGrath RentCorp Announces Dividend
Institutional Trading of McGrath RentCorp
Large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in McGrath RentCorp in the 1st quarter worth approximately $66,000. SG Americas Securities LLC bought a new stake in McGrath RentCorp in the 1st quarter worth approximately $171,000. TFG Advisers LLC bought a new stake in McGrath RentCorp in the 1st quarter worth approximately $203,000. J.W. Cole Advisors Inc. bought a new stake in McGrath RentCorp in the 1st quarter worth approximately $210,000. Finally, Meeder Asset Management Inc. bought a new stake in McGrath RentCorp in the 1st quarter worth approximately $213,000. 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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