McGrath RentCorp (MGRC) To Go Ex-Dividend on October 16th

McGrath RentCorp (NASDAQ:MGRC) announced a quarterly dividend on Thursday, September 21st, Wall Street Journal reports. Stockholders of record on Tuesday, October 17th will be paid a dividend of 0.26 per share by the financial services provider on Tuesday, October 31st. This represents a $1.04 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, October 16th.

McGrath RentCorp has raised its dividend by an average of 2.1% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. McGrath RentCorp has a payout ratio of 54.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect McGrath RentCorp to earn $2.02 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 51.5%.

Shares of McGrath RentCorp (MGRC) opened at 45.58 on Friday. The firm has a market cap of $1.09 billion, a P/E ratio of 26.06 and a beta of 0.97. The stock’s 50 day moving average is $42.35 and its 200 day moving average is $36.85. McGrath RentCorp has a 52 week low of $29.27 and a 52 week high of $46.73.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.10. McGrath RentCorp had a net margin of 9.74% and a return on equity of 10.62%. The business had revenue of $109.58 million during the quarter, compared to analyst estimates of $105.36 million. During the same period in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that McGrath RentCorp will post $1.88 earnings per share for the current fiscal year.

Several research firms have recently commented on MGRC. Zacks Investment Research lowered shares of McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Monday, July 24th.

In other McGrath RentCorp news, VP Keith E. Pratt sold 3,261 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.73, for a total transaction of $132,820.53. Following the completion of the transaction, the vice president now directly owns 26,000 shares of the company’s stock, valued at approximately $1,058,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Trease Kristina Van sold 3,400 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $39.61, for a total transaction of $134,674.00. Following the transaction, the vice president now directly owns 15,030 shares of the company’s stock, valued at $595,338.30. The disclosure for this sale can be found here. Insiders have sold a total of 18,265 shares of company stock valued at $719,958 over the last three months. 4.60% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION WARNING: This news story was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://ledgergazette.com/2017/10/15/mcgrath-rentcorp-mgrc-to-go-ex-dividend-on-october-16th.html.

About McGrath RentCorp

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through 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 buildin

McGrath RentCorp has raised its dividend by an average of 2.1% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. McGrath RentCorp has a payout ratio of 54.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect McGrath RentCorp to earn $2.02 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 51.5%.

Shares of McGrath RentCorp (MGRC) opened at 45.58 on Friday. The firm has a market cap of $1.09 billion, a P/E ratio of 26.06 and a beta of 0.97. The stock’s 50 day moving average is $42.35 and its 200 day moving average is $36.85. McGrath RentCorp has a 52 week low of $29.27 and a 52 week high of $46.73.

McGrath RentCorp (NASDAQ:MGRC) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.10. McGrath RentCorp had a net margin of 9.74% and a return on equity of 10.62%. The business had revenue of $109.58 million during the quarter, compared to analyst estimates of $105.36 million. During the same period in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that McGrath RentCorp will post $1.88 earnings per share for the current fiscal year.

Several research firms have recently commented on MGRC. Zacks Investment Research lowered shares of McGrath RentCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub raised shares of McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Monday, July 24th.

In other McGrath RentCorp news, VP Keith E. Pratt sold 3,261 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.73, for a total transaction of $132,820.53. Following the completion of the transaction, the vice president now directly owns 26,000 shares of the company’s stock, valued at approximately $1,058,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Trease Kristina Van sold 3,400 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $39.61, for a total transaction of $134,674.00. Following the transaction, the vice president now directly owns 15,030 shares of the company’s stock, valued at $595,338.30. The disclosure for this sale can be found here. Insiders have sold a total of 18,265 shares of company stock valued at $719,958 over the last three months. 4.60% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION WARNING: This news story was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://ledgergazette.com/2017/10/15/mcgrath-rentcorp-mgrc-to-go-ex-dividend-on-october-16th.html.

About McGrath RentCorp

McGrath RentCorp is a diversified business-to-business rental company. The Company operates through 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).

Dividend History for McGrath RentCorp (NASDAQ:MGRC)

Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply