StockNews.com started coverage on shares of McGrath RentCorp (NASDAQ:MGRC – Free Report) in a report issued on Monday morning. The firm issued a hold rating on the financial services provider’s stock.
McGrath RentCorp Stock Up 0.9 %
NASDAQ MGRC opened at $109.95 on Monday. The firm has a market cap of $2.70 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.66 and a beta of 0.82. McGrath RentCorp has a 52 week low of $87.72 and a 52 week high of $130.86. The company has a 50 day moving average price of $117.55 and a 200 day moving average price of $113.75.
McGrath RentCorp (NASDAQ:MGRC – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20. The business had revenue of $187.80 million for the quarter, compared to the consensus estimate of $145.63 million. McGrath RentCorp had a return on equity of 13.43% and a net margin of 14.70%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, equities research analysts anticipate that McGrath RentCorp will post 5.05 earnings per share for the current fiscal year.
McGrath RentCorp Increases Dividend
Hedge Funds Weigh In On McGrath RentCorp
Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in McGrath RentCorp during the 1st quarter worth about $171,000. Quantbot Technologies LP acquired a new stake in shares of McGrath RentCorp during the first quarter worth about $1,008,000. TFG Advisers LLC purchased a new stake in McGrath RentCorp in the first quarter valued at approximately $203,000. GSA Capital Partners LLP increased its holdings in McGrath RentCorp by 230.5% in the 1st quarter. GSA Capital Partners LLP now owns 5,529 shares of the financial services provider’s stock worth $682,000 after buying an additional 3,856 shares during the period. Finally, Fifth Lane Capital LP purchased a new position in McGrath RentCorp during the 1st quarter worth approximately $1,626,000. 92.05% of the stock is owned by institutional investors and hedge funds.
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.
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