McGrath RentCorp (NASDAQ:MGRC) Announces Earnings Results, Beats Estimates By $0.20 EPS

McGrath RentCorp (NASDAQ:MGRC) released its quarterly earnings results on Thursday. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20, Briefing.com reports. The company had revenue of $187.80 million during the quarter, compared to analysts’ expectations of $145.63 million. McGrath RentCorp had a return on equity of 13.56% and a net margin of 14.70%. McGrath RentCorp’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS.

McGrath RentCorp Trading Up 2.2 %

NASDAQ:MGRC traded up $2.41 during trading hours on Friday, hitting $111.71. 210,079 shares of the stock were exchanged, compared to its average volume of 211,899. McGrath RentCorp has a 52-week low of $86.26 and a 52-week high of $130.86. The firm’s fifty day moving average price is $119.70 and its 200 day moving average price is $113.34. The company has a market cap of $2.74 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.55 and a beta of 0.80.

McGrath RentCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a dividend of $0.475 per share. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, April 15th. McGrath RentCorp’s payout ratio is 37.04%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on McGrath RentCorp in a research note on Saturday, April 20th. They set a “hold” rating for the company.

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.