McGrath RentCorp (NASDAQ:MGRC) Issues Earnings Results, Beats Expectations By $0.20 EPS

McGrath RentCorp (NASDAQ:MGRC) issued its 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 firm had revenue of $187.80 million during the quarter, compared to analysts’ expectations of $145.63 million. McGrath RentCorp had a net margin of 20.99% and a return on equity of 13.63%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share.

McGrath RentCorp Stock Performance

Shares of NASDAQ:MGRC traded up $1.84 during mid-day trading on Friday, hitting $111.14. The stock had a trading volume of 67,599 shares, compared to its average volume of 313,004. The company has a market cap of $2.73 billion, a PE ratio of 15.38, a P/E/G ratio of 1.54 and a beta of 0.80. McGrath RentCorp has a 12-month low of $86.26 and a 12-month high of $130.86. The company’s 50 day moving average is $120.04 and its 200-day moving average is $113.27.

McGrath RentCorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Monday, April 15th. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.47. McGrath RentCorp’s dividend payout ratio is 26.69%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of McGrath RentCorp in a report on Saturday, April 20th. They set a “hold” rating for the company.

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.