McGrath RentCorp (NASDAQ:MGRC) Shareholders to Get $0.49 Quarterly Dividend

McGrath RentCorp (NASDAQ:MGRC) declared a quarterly dividend on Friday, September 18th. Stockholders of record on Friday, October 16th will be given a dividend of $0.4950 per share by the financial services provider on Friday, October 30th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, October 16th.

McGrath RentCorp has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect McGrath RentCorp to earn $7.04 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 28.1%.

McGrath RentCorp Price Performance

NASDAQ MGRC opened at $114.64 on Wednesday. The firm has a market cap of $2.80 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.14 and a beta of 0.47. McGrath RentCorp has a one year low of $94.99 and a one year high of $125.83. The stock’s 50 day simple moving average is $114.71 and its 200 day simple moving average is $114.58.

McGrath RentCorp (NASDAQ:MGRC) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. The business had revenue of $221.11 million for the quarter, compared to analyst estimates of $236.51 million. As a group, equities analysts expect that McGrath RentCorp will post 6.37 earnings per share for the current year.

McGrath RentCorp Company Profile

McGrath RentCorp was a business-to-business rental company headquartered in Livermore, California. The company provided temporary and longer-term rental solutions for modular buildings, portable storage, electronic test equipment and related products, serving customers in the education, government, construction, commercial and industrial sectors.

Its Mobile Modular business supplied relocatable classrooms, office buildings and other modular structures, while its TRS-RenTelco operation rented electronic test and measurement equipment used by telecommunications, electronics, aerospace and other industrial customers.