News headlines about McGrath RentCorp (NASDAQ:MGRC) have trended positive this week, according to Accern. The research firm identifies negative and positive media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. McGrath RentCorp earned a news impact score of 0.35 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 45.3344272379367 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the media headlines that may have effected Accern’s scoring:
A number of research analysts have recently issued reports on the company. ValuEngine lowered McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub raised McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Finally, Zacks Investment Research lowered McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 3rd.
McGrath RentCorp (MGRC) opened at $50.76 on Wednesday. The stock has a market capitalization of $1,202.60, a P/E ratio of 8.03 and a beta of 0.90. McGrath RentCorp has a twelve month low of $32.09 and a twelve month high of $51.49.
McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.13. The business had revenue of $122.23 million for the quarter, compared to analyst estimates of $109.77 million. McGrath RentCorp had a return on equity of 11.85% and a net margin of 33.31%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Monday, April 16th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, April 13th. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.26. McGrath RentCorp’s dividend payout ratio is currently 16.46%.
In related news, Director Ronald H. Zech sold 2,053 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $50.48, for a total transaction of $103,635.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Philip B. Hawkins sold 5,990 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $49.54, for a total value of $296,744.60. Following the transaction, the vice president now directly owns 7,390 shares in the company, valued at approximately $366,100.60. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
About McGrath RentCorp
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).