McGrath (MGRC) Upgraded to Strong Buy: What Does It Mean for the Stock?
McGrath (MGRC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
McGrath RentCorp (MGRC) Q3 2024 Earnings Call Transcript
McGrath RentCorp (NASDAQ:MGRC ) Q3 2024 Earnings Conference Call October 24, 2024 5:00 PM ET Company Participants Joe Hanna - Chief Executive Officer Keith Pratt - Chief Financial Officer Conference Call Participants Scott Schneeberger - Oppenheimer Mark Riddick - Sidoti Operator Ladies and gentlemen, thank you for standing by. Welcome to the McGrath RentCorp's Third Quarter 2024 Earnings Call.
McGrath (MGRC) Q3 Earnings and Revenues Top Estimates
McGrath (MGRC) came out with quarterly earnings of $1.87 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $1.65 per share a year ago.
Analysts Estimate McGrath (MGRC) to Report a Decline in Earnings: What to Look Out for
McGrath (MGRC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Why McGrath RentCorp Stock Slumped on Wednesday
A tie-up with a very compatible peer was canceled. McGrath will receive a fee of $180 million for this, but that's small comfort to shareholders.
McGrath RentCorp (MGRC) Q2 2024 Earnings Call Transcript
McGrath RentCorp (NASDAQ:MGRC ) Q2 2024 Earnings Conference Call July 25, 2024 5:00 PM ET Company Participants Joe Hanna - Chief Executive Officer Keith Pratt - Chief Financial Officer Conference Call Participants Scott Schneeberger - Oppenheimer Marc Riddick - Sidoti Operator Ladies and gentlemen, thank you for standing by. Welcome to the McGrath RentCorp Second Quarter 2024 Earnings Call.
McGrath (MGRC) Misses Q2 Earnings Estimates
McGrath (MGRC) came out with quarterly earnings of $1.20 per share, missing the Zacks Consensus Estimate of $1.25 per share. This compares to earnings of $1.14 per share a year ago.
Earnings Preview: McGrath (MGRC) Q2 Earnings Expected to Decline
McGrath (MGRC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
McGrath (MGRC) Upgraded to Buy: Here's Why
McGrath (MGRC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates DO, MGRC on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / June 11, 2024 / Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Diamond Offshore Drilling, Inc. (NYSE:DO)'s sale to Noble Corporation plc for 0.2316 shares of Noble and $5.65 in cash for each share of Diamond stock. If you are a Diamond shareholder, click here to learn more about your legal rights and options.
McGrath RentCorp (NASDAQ:MGRC) Shares Sold by Amalgamated Bank
Amalgamated Bank cut its stake in McGrath RentCorp (NASDAQ:MGRC – Free Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,569 shares of the financial services provider’s stock after selling 247 shares during the quarter. Amalgamated Bank’s holdings in McGrath RentCorp were worth $427,000 at the end of the most recent reporting period. Other hedge funds have also bought and sold shares of the company. EP Wealth Advisors LLC acquired a new position in shares of McGrath RentCorp in the 3rd quarter valued at $221,000. Navellier & Associates Inc. purchased a new stake in shares of McGrath RentCorp during the 3rd quarter worth about $306,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of McGrath RentCorp during the 3rd quarter valued at about $330,000. Diversified Trust Co increased its stake in shares of McGrath RentCorp by 4.2% in the 3rd quarter. Diversified Trust Co now owns 3,628 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 147 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in McGrath RentCorp in the 4th quarter worth about $395,000. Hedge funds and other institutional investors own 92.05% of the company’s stock. McGrath RentCorp Stock Performance NASDAQ:MGRC opened at $111.60 on Monday. The company has a fifty day moving average of $115.03 and a two-hundred day moving average of $114.43. McGrath RentCorp has a fifty-two week low of $87.72 and a fifty-two week high of $130.86. The stock has a market capitalization of $2.74 billion, a PE ratio of 21.75, a P/E/G ratio of 1.70 and a beta of 0.82. 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 for the quarter, beating analysts’ consensus estimates of $0.73 by $0.20. McGrath RentCorp had a net margin of 14.70% and a return on equity of 13.43%. The firm had revenue of $187.80 million for the quarter, compared to analyst estimates of $145.63 million. During the same period last year, the company posted $0.89 EPS. McGrath RentCorp’s quarterly revenue was up 14.7% compared to the same quarter last year. Research analysts forecast that McGrath RentCorp will post 5.05 earnings per share for the current year. McGrath RentCorp Increases Dividend The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th were paid a $0.475 dividend. The ex-dividend date was Monday, April 15th. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.47. This represents a $1.90 dividend on an annualized basis and a dividend yield of 1.70%. McGrath RentCorp’s payout ratio is currently 37.04%. Analyst Ratings Changes Separately, StockNews.com assumed coverage on McGrath RentCorp in a report on Monday, May 6th. They issued a “hold” rating on the stock. Check Out Our Latest Analysis on McGrath RentCorp McGrath RentCorp Profile (Free Report) 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.
