McGrath RentCorp Plans Quarterly Dividend of $0.50 (NASDAQ:MGRC)

McGrath RentCorp (NASDAQ:MGRC) declared a quarterly dividend on Wednesday, June 3rd. Investors of record on Friday, July 17th will be given a dividend of 0.495 per share by the financial services provider on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, July 17th.

McGrath RentCorp has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 33 years. McGrath RentCorp has a dividend payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect McGrath RentCorp to earn $7.07 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 28.0%.

McGrath RentCorp Trading Up 0.0%

NASDAQ:MGRC opened at $106.94 on Thursday. McGrath RentCorp has a 1-year low of $94.99 and a 1-year high of $128.41. The firm has a fifty day simple moving average of $112.11 and a 200 day simple moving average of $109.84. The stock has a market capitalization of $2.63 billion, a PE ratio of 16.97, a P/E/G ratio of 1.09 and a beta of 0.44.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Wednesday, April 29th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.03). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. The firm had revenue of $198.54 million during the quarter, compared to the consensus estimate of $198.19 million. On average, equities analysts predict that McGrath RentCorp will post 6.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays assumed coverage on shares of McGrath RentCorp in a research report on Wednesday, February 11th. They set an “overweight” rating and a $140.00 price objective for the company. Weiss Ratings cut shares of McGrath RentCorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.50.

McGrath RentCorp Company Profile

McGrath RentCorp, through its subsidiaries, provides rental, sales, and servicing of equipment for commercial, industrial, environmental, and residential markets. The company operates primarily through two segments—mobile storage and water management—offering flexible solutions for customers requiring on-site storage, water transport, treatment, and dewatering services.

In its mobile storage segment, McGrath RentCorp supplies portable storage containers and modular office units to sectors including construction, retail, government, and disaster restoration.