Brokerages Anticipate McGrath RentCorp (MGRC) to Announce $0.28 EPS

Shares of McGrath RentCorp (NASDAQ:MGRC) have earned a consensus broker rating score of 0.00 () from the three brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company.

Brokerages have set a 1 year consensus price objective of $40.00 for the company and are expecting that the company will post $0.28 earnings per share for the current quarter, according to Zacks. Zacks has also given McGrath RentCorp an industry rank of 110 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded McGrath RentCorp from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, November 22nd.

McGrath RentCorp (NASDAQ:MGRC) opened at 34.08 on Thursday. The stock has a 50 day moving average price of $36.69 and a 200 day moving average price of $35.23. McGrath RentCorp has a 52-week low of $22.40 and a 52-week high of $39.86. The company has a market capitalization of $816.11 million, a price-to-earnings ratio of 21.30 and a beta of 1.09.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.05%. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, April 11th. McGrath RentCorp’s dividend payout ratio is presently 61.08%.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of McGrath RentCorp by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,316 shares of the company’s stock valued at $67,772,000 after buying an additional 44,442 shares during the last quarter. Brown Advisory Inc. raised its position in McGrath RentCorp by 4.7% in the fourth quarter. Brown Advisory Inc. now owns 1,333,883 shares of the company’s stock valued at $52,275,000 after buying an additional 59,537 shares in the last quarter. State Street Corp raised its position in McGrath RentCorp by 15.7% in the fourth quarter. State Street Corp now owns 522,882 shares of the company’s stock valued at $20,491,000 after buying an additional 70,905 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in McGrath RentCorp by 1.0% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 492,212 shares of the company’s stock valued at $19,289,000 after buying an additional 4,690 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in McGrath RentCorp by 25.9% in the fourth quarter. Renaissance Technologies LLC now owns 418,795 shares of the company’s stock valued at $16,413,000 after buying an additional 86,200 shares in the last quarter. Institutional investors own 81.58% of the company’s stock.

About McGrath RentCorp

McGrath RentCorp is a diversified business-to-business rental company with four rental divisions: relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes. The Company operates in 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).

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