McGrath RentCorp (MGRC) Stock Forecast, Price & News

2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for McGrath RentCorp in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" MGRC shares.
View MGRC analyst ratings or view top-rated stocks.

2 brokers have issued 12-month price targets for McGrath RentCorp's shares. Their MGRC share price forecasts range from $114.00 to $127.00. On average, they anticipate the company's share price to reach $120.50 in the next twelve months. This suggests a possible upside of 30.0% from the stock's current price.
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McGrath RentCorp's stock was trading at $98.74 at the start of the year. Since then, MGRC stock has decreased by 6.2% and is now trading at $92.66.
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McGrath RentCorp saw a increase in short interest during the month of May. As of May 15th, there was short interest totaling 296,700 shares, an increase of 28.8% from the April 30th total of 230,300 shares. Based on an average daily trading volume, of 147,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.2% of the shares of the company are sold short.
View McGrath RentCorp's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023.
View our MGRC earnings forecast.

McGrath RentCorp (NASDAQ:MGRC) released its quarterly earnings data on Wednesday, February, 22nd. The financial services provider reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.28. The financial services provider had revenue of $210.90 million for the quarter, compared to analyst estimates of $201.16 million. McGrath RentCorp had a net margin of 22.34% and a trailing twelve-month return on equity of 14.82%. The firm's revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share.

McGrath RentCorp declared a quarterly dividend on Wednesday, February 22nd. Stockholders of record on Friday, April 14th will be paid a dividend of $0.465 per share on Friday, April 28th. This represents a $1.86 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, April 13th. This is an increase from the stock's previous quarterly dividend of $0.46.
Read our dividend analysis for MGRC.

ETFs with the largest weight of McGrath RentCorp (NASDAQ:MGRC) stock in their portfolio include Invesco DWA Industrials Momentum ETF (PRN), ProShares Russell 2000 Dividend Growers ETF (SMDV), WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS), Avantis U.S. Small Cap Value ETF (AVUV), Invesco DWA SmallCap Momentum ETF (DWAS), VictoryShares US Discovery Enhanced Volatility Wtd ETF (CSF), Timothy Plan US Small Cap Core ETF (TPSC) and Franklin U.S. Small Cap Multifactor Index ETF (FLQS).

McGrath RentCorp (NASDAQ:MGRC) pays an annual dividend of $1.86 per share and currently has a dividend yield of 2.01%. The company has been increasing its dividend for 31 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 27.11%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MGRC will have a dividend payout ratio of 36.33% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MGRC.

McGrath RentCorp updated its FY 2023 earnings guidance on Thursday, May, 4th. The company provided EPS guidance of for the period. The company issued revenue guidance of $790.00 million-$820.00 million, compared to the consensus revenue estimate of $795.78 million.

7 employees have rated McGrath RentCorp Chief Executive Officer Joseph F. Hanna on Glassdoor.com. Joseph F. Hanna has an approval rating of 100% among the company's employees. This puts Joseph F. Hanna in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other McGrath RentCorp investors own include Home Depot (HD), AbbVie (ABBV), NVIDIA (NVDA), Verizon Communications (VZ), Cisco Systems (CSCO), S&P Global (SPGI), AT&T (T), Intel (INTC), NextEra Energy (NEE) and Fortinet (FTNT).

McGrath RentCorp trades on the NASDAQ under the ticker symbol "MGRC."

McGrath RentCorp's stock is owned by a number of institutional and retail investors. Top institutional investors include BlackRock Inc. (8.73%), Franklin Resources Inc. (5.89%), Dimensional Fund Advisors LP (5.22%), Victory Capital Management Inc. (4.28%), River Road Asset Management LLC (2.84%) and Silvercrest Asset Management Group LLC (2.64%). Insiders that own company stock include David M Whitney, Dennis P Stradford, Elizabeth A Fetter, John Lieffrig, John P Skenesky, Kay Dashner, Keith E Pratt, Kimberly Ann Box, Philip B Hawkins, Ronald H Zech, Tara Wescott and Trease Kristina Van.
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Shares of MGRC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of MGRC stock can currently be purchased for approximately $92.66.

McGrath RentCorp (NASDAQ:MGRC) has a market capitalization of $2.27 billion and generates $733.82 million in revenue each year. The financial services provider earns $115.14 million in net income (profit) each year or $6.86 on an earnings per share basis.

The company employs 1,218 workers across the globe.

McGrath RentCorp's mailing address is 5700 LAS POSITAS RD, LIVERMORE CA, 94551. The official website for the company is www.mgrc.com. The financial services provider can be reached via phone at (925) 606-9200, via email at investor@mgrc.com, or via fax at 925-453-3200.