McGrath RentCorp (NASDAQ:MGRC) Hits New 52-Week Low at $95.50

McGrath RentCorp (NASDAQ:MGRC) reached a new 52-week low on Wednesday . The company traded as low as $95.50 and last traded at $99.25, with a volume of 196599 shares trading hands. The stock had previously closed at $102.19.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded McGrath RentCorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th.

McGrath RentCorp Trading Down 3.0 %

The firm has a 50-day moving average of $106.50 and a two-hundred day moving average of $110.17. The firm has a market capitalization of $2.43 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.46 and a beta of 0.76.

McGrath RentCorp (NASDAQ:MGRC) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.41). McGrath RentCorp had a return on equity of 13.33% and a net margin of 13.39%. The business had revenue of $212.60 million for the quarter, compared to analyst estimates of $210.23 million. During the same quarter in the prior year, the business earned $1.14 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that McGrath RentCorp will post 5.45 EPS for the current fiscal year.

McGrath RentCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $1.90 dividend on an annualized basis and a yield of 1.92%. McGrath RentCorp’s payout ratio is currently 37.04%.

Institutional Investors Weigh In On McGrath RentCorp

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in McGrath RentCorp in the first quarter valued at approximately $171,000. TFG Advisers LLC bought a new stake in McGrath RentCorp during the 1st quarter valued at $203,000. J.W. Cole Advisors Inc. acquired a new position in McGrath RentCorp during the first quarter worth $210,000. Meeder Asset Management Inc. acquired a new position in shares of McGrath RentCorp during the first quarter valued at about $213,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of McGrath RentCorp during the fourth quarter worth about $217,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

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.