For its first fiscal quarter (ending March 31), McGrath RentCorp (NASDAQ: MGRC) has reported E.P.S. of $0.93 compared to $0.47 a year ago. E.P.S. were $5.03 for the latest four quarters through March 31 versus $3.98 for the same period a year ago.
Recent Price Action
On 4/25/24, McGrath RentCorp (NASDAQ: MGRC) stock rose modestly by 0.7%, closing at $109.30. However, exceptionally low trading volume at 43% of normal accompanied the advance. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -2.0% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, MGRC is expected to continue to be an important Value Builder.
McGrath RentCorp has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. McGrath RentCorp has a neutral Appreciation Score of 40 but a very high Power Rating of 88, triggering the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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