McGrath RentCorp (MGRC) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.38 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.34. The company posted revenue of $103.10 million in the period, compared to analysts expectations of $98.58 million. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.
McGrath RentCorp opened for trading at $31.89 and hit $32.08 on the upside on Friday, eventually ending the session at $31.87, with a gain of 0.22% or 0.07 points. The heightened volatility saw the trading volume jump to 69,437 shares. Company has a market cap of $762 M.
In a different news, on Jun 16, 2016, Randle F Rose (SVP and CAO) sold 3,000 shares at $30.14 per share price. According to the SEC, on Jun 16, 2016, Dennis C Kakures (CEO) sold 10,449 shares at $30.19 per share price. On Jun 16, 2016, Keith E Pratt (Sr VP and CFO) sold 1,362 shares at $30.20 per share price, according to the Form-4 filing with the securities and exchange commission.
McGrath RentCorp is a business-to-business rental company with three rental divisions: relocatable modular buildings electronic test equipment and liquid and solid containment tanks and boxes. The Companys primary emphasis is on equipment rentals. However sales of equipment occur in the normal course of business. The Company is comprised of four business segments: modular building and portable storage rental division (Mobile Modular); electronic test equipment rental division (TRS-RenTelco); wholly owned subsidiary providing containment solutions for the storage of hazardous and non-hazardous liquids and solids (Adler Tanks); and wholly owned subsidiary classroom manufacturing business selling modular buildings used primarily as classrooms in California (Enviroplex). The Mobile Modular business segment includes Mobile Modular Portable Storage.