McGrath RentCorp (NASDAQ:MGRC) Posts Quarterly Earnings Results, Beats Estimates By $0.20 EPS

McGrath RentCorp (NASDAQ:MGRC) posted its quarterly earnings results on Thursday. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.20, Briefing.com reports. The company had revenue of $187.80 million during the quarter, compared to the consensus estimate of $145.63 million. McGrath RentCorp had a return on equity of 13.56% and a net margin of 14.70%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 EPS.

McGrath RentCorp Price Performance

Shares of NASDAQ:MGRC traded up $2.41 on Friday, hitting $111.71. The company’s stock had a trading volume of 210,079 shares, compared to its average volume of 211,899. The company has a 50-day simple moving average of $119.70 and a 200 day simple moving average of $113.34. McGrath RentCorp has a 1 year low of $86.26 and a 1 year high of $130.86. The company has a market capitalization of $2.74 billion, a PE ratio of 21.78, a PEG ratio of 1.55 and a beta of 0.80.

McGrath RentCorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.90 annualized dividend and a yield of 1.70%. This is an increase from McGrath RentCorp’s previous quarterly dividend of $0.47. McGrath RentCorp’s dividend payout ratio (DPR) is currently 37.04%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on McGrath RentCorp in a research note on Saturday, April 20th. They set a “hold” rating for the company.

McGrath RentCorp Company Profile

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.