McGrath RentCorp (NASDAQ:MGRC) Getting Somewhat Positive Press Coverage, Analysis Finds

News coverage about McGrath RentCorp (NASDAQ:MGRC) has been trending somewhat positive this week, Accern Sentiment reports. Accern identifies positive and negative media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. McGrath RentCorp earned a media sentiment score of 0.15 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 46.8252846766698 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.

Here are some of the media headlines that may have effected Accern Sentiment’s analysis:

A number of research firms recently commented on MGRC. Zacks Investment Research upgraded McGrath RentCorp from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, June 9th. BidaskClub upgraded McGrath RentCorp from a “sell” rating to a “hold” rating in a report on Monday, July 24th.

Shares of McGrath RentCorp (NASDAQ MGRC) traded up 0.05% on Friday, reaching $38.64. 46,839 shares of the company’s stock traded hands. McGrath RentCorp has a one year low of $29.27 and a one year high of $41.61. The company’s 50-day moving average price is $36.26 and its 200 day moving average price is $35.19. The firm has a market cap of $927.09 million, a P/E ratio of 22.09 and a beta of 0.97.

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

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Thursday, July 13th. McGrath RentCorp’s payout ratio is presently 59.43%.

In other McGrath RentCorp news, VP John P. Skenesky sold 7,561 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $38.47, for a total value of $290,871.67. Following the sale, the vice president now owns 6,387 shares of the company’s stock, valued at approximately $245,707.89. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Keith E. Pratt sold 3,261 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.73, for a total transaction of $132,820.53. Following the completion of the sale, the vice president now directly owns 26,000 shares in the company, valued at approximately $1,058,980. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

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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).

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

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