McGrath RentCorp (NASDAQ:MGRC) Posts Quarterly Earnings Results

McGrath RentCorp (NASDAQ:MGRC) issued its earnings results on Wednesday. The financial services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08, Zacks reports. McGrath RentCorp had a net margin of 25.29% and a return on equity of 13.64%. McGrath RentCorp updated its FY 2025 guidance to EPS.

McGrath RentCorp Stock Up 1.3 %

Shares of MGRC stock traded up $1.63 during mid-day trading on Wednesday, reaching $123.85. 133,565 shares of the stock traded hands, compared to its average volume of 134,386. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 1.21 and a beta of 0.77. The stock’s fifty day simple moving average is $117.45 and its two-hundred day simple moving average is $112.59. McGrath RentCorp has a 1-year low of $95.50 and a 1-year high of $128.93.

McGrath RentCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $0.475 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.90 annualized dividend and a yield of 1.53%. McGrath RentCorp’s dividend payout ratio is presently 20.77%.

Analysts Set New Price Targets

MGRC has been the subject of a number of research reports. CJS Securities started coverage on shares of McGrath RentCorp in a research note on Wednesday, December 11th. They set an “outperform” rating and a $152.00 target price for the company. StockNews.com raised McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Oppenheimer upped their price objective on shares of McGrath RentCorp from $124.00 to $139.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd.

Insider Activity

In other McGrath RentCorp news, VP Gilda Malek sold 919 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $121.78, for a total transaction of $111,915.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

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.