McGrath RentCorp (MGRC) Stock Forecast, Price & News

2 Wall Street 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 research analysts is that investors should "buy" MGRC shares.
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2 Wall Street analysts 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 expect the company's stock price to reach $120.50 in the next twelve months. This suggests a possible upside of 18.4% from the stock's current price.
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McGrath RentCorp's stock was trading at $98.74 on January 1st, 2023. Since then, MGRC stock has increased by 3.0% and is now trading at $101.75.
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McGrath RentCorp saw a decline in short interest in the month of August. As of August 31st, there was short interest totaling 172,500 shares, a decline of 18.4% from the August 15th total of 211,500 shares. Based on an average daily trading volume, of 91,500 shares, the days-to-cover ratio is currently 1.9 days.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, October 26th 2023.
View our MGRC earnings forecast.

McGrath RentCorp (NASDAQ:MGRC) announced its quarterly earnings results on Thursday, July, 27th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $0.96 by $0.18. The financial services provider had revenue of $203.03 million for the quarter, compared to the consensus estimate of $191.80 million. McGrath RentCorp had a net margin of 22.16% and a trailing twelve-month return on equity of 14.47%.

McGrath RentCorp declared a quarterly dividend on Friday, September 15th. Stockholders of record on Tuesday, October 17th will be paid a dividend of $0.465 per share on Tuesday, October 31st. This represents a $1.86 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, October 16th.
Read our dividend analysis for MGRC.

ETFs with the largest weight of McGrath RentCorp (NASDAQ:MGRC) stock in their portfolio include Profound Medical (PRN).JPMorgan Active Small Cap Value ETF (JPSV).

McGrath RentCorp (NASDAQ:MGRC) pays an annual dividend of $1.86 per share and currently has a dividend yield of 1.83%. 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 26.42%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MGRC will have a dividend payout ratio of 35.77% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MGRC.

McGrath RentCorp issued an update on its FY 2023 earnings guidance on Friday, July, 28th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $805.00 million-$830.00 million, compared to the consensus revenue estimate of $802.08 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 variety of institutional and retail investors. Top institutional investors include BlackRock Inc. (8.94%), Franklin Resources Inc. (7.51%), Dimensional Fund Advisors LP (5.24%), Victory Capital Management Inc. (4.52%), River Road Asset Management LLC (3.23%) and Silvercrest Asset Management Group LLC (2.66%). Insiders that own company stock include David M Whitney, Dennis P Stradford, Elizabeth A Fetter, John Lieffrig, John P Skenesky, Kay Dashner, 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 $101.75.

McGrath RentCorp (NASDAQ:MGRC) has a market capitalization of $2.49 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 $7.04 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.