McGrath RentCorp (NASDAQ:MGRC) is reporting third quarter earnings results on Thursday 29th October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 1.02 per share.
For the full year, analysts predict revenues of $ 560.40 million, while looking forward to income of $ 3.74 per share.
The Company Outlook
Revenue for 3Q20 are expected in a range of $ 140.00 million ~ $ 160.00 million
Full Year 2020 topline are forecasted in a range of$ 575.00 million ~ $ 595.00 million
Click Here For More Historical Outlooks Of McGrath RentCorp
Previous Quarter Performance
McGrath RentCorp unwinded income for the second quarter of $ 0.92 per share, from the revenue of $ 137.67 million. The quarterly earnings boosted 16.46 percent while revenues increased 8.03 percent compared with the same quarter last year.
According to street consensus, MGRC was expected to report 2Q20 income of $ 0.40 per share from revenue of $ 113.50 million. The bottom line results beat street analysts by $ 0.52 or 130.00 percent, at the same time, top line results outshined analysts by $ 24.17 million or 21.30 percent.
Stock Performance
Shares of McGrath RentCorp traded low $ -1.70 or -2.83 percent on Wednesday, reaching $ 58.40 with volume of 96.90 thousand shares. McGrath RentCorp has traded high as $ 61.94 and has cracked $ 57.81 on the downward trend
According to the previous trading day, closing price of $ 58.40, representing a 35.60 % increase from the 52 week low of $ 44.32 and a 28.41 % decrease over the 52 week high of $ 83.95.
The company has a market capital of $ 1.41 billion and is part of the Industrials sector and Rental & Leasing Services industry.
Conference Call
McGrath RentCorp will be hosting a conference call at 5:00 PM eastern time on 29th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.mgrc.com
McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes. The company operates in four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
