Favorable News Coverage Somewhat Unlikely to Impact McGrath RentCorp (MGRC) Stock Price

News articles about McGrath RentCorp (NASDAQ:MGRC) have trended positive on Sunday, Accern Sentiment Analysis reports. The research firm rates the sentiment of press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. McGrath RentCorp earned a news sentiment score of 0.30 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 46.2604654655795 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

McGrath RentCorp (NASDAQ:MGRC) opened at $50.52 on Friday. McGrath RentCorp has a 1-year low of $32.09 and a 1-year high of $50.69. The firm has a market capitalization of $1,214.10, a price-to-earnings ratio of 26.59, a PEG ratio of 2.27 and a beta of 1.02.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. McGrath RentCorp had a return on equity of 11.44% and a net margin of 10.32%. The company had revenue of $135.39 million during the quarter, compared to analysts’ expectations of $124.90 million. During the same period in the previous year, the firm posted $0.54 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. research analysts anticipate that McGrath RentCorp will post 2.04 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.06%. McGrath RentCorp’s dividend payout ratio (DPR) is 54.74%.

A number of research firms have recently weighed in on MGRC. BidaskClub raised McGrath RentCorp from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research raised McGrath RentCorp from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a report on Friday, November 3rd. ValuEngine cut McGrath RentCorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Oppenheimer reissued a “hold” rating on shares of McGrath RentCorp in a report on Wednesday, November 1st.

In related news, Director Dennis P. Stradford sold 3,900 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $49.41, for a total value of $192,699.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $247,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Dawson sold 4,000 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $47.83, for a total value of $191,320.00. Following the completion of the transaction, the director now owns 15,543 shares of the company’s stock, valued at $743,421.69. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,159 shares of company stock valued at $628,935. Insiders own 4.60% of the company’s stock.

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McGrath RentCorp Company Profile

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).

Insider Buying and Selling by Quarter for McGrath RentCorp (NASDAQ:MGRC)

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