McGrath RentCorp downgraded by Sidoti with a new price target
$MGRC
Diversified Commercial Services
Consumer Discretionary
Sidoti downgraded McGrath RentCorp from Buy to Neutral and set a new price target of $106.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/25/2024 | $120.00 | Outperform | Oppenheimer |
| 2/2/2023 | $127.00 | Neutral → Buy | Sidoti |
| 11/16/2022 | $106.00 | Buy → Neutral | Sidoti |
McGrath RentCorp ("McGrath" or the "Company") (NASDAQ:MGRC), a leading business-to-business rental company in North America, today announced that Joe Hanna, Chief Executive Officer, and Keith Pratt, EVP, and Chief Financial Officer, are scheduled to present at the Baird 2024 Global Industrial Conference on Thursday, November 14, 2024. Conference presentations will not be available via webcast; however, Mr. Hanna and Mr. Pratt's presentation will be posted under the "Events and Presentations" section of the Company's website at https://investors.mgrc.com/events-and-presentations on the morning of the scheduled event. ABOUT MCGRATH: McGrath RentCorp (NASDAQ:MGRC) is a leading business-to-bu
McGrath RentCorp ("McGrath" or the "Company") (NASDAQ:MGRC), a leading business-to-business rental company in North America, today announced total revenues from continuing operations for the quarter ended September 30, 2024 of $266.8 million, an increase of 10% compared to the third quarter of 2023. The Company reported net income from continuing operations of $149.3 million, or $6.08 per diluted share, for the third quarter of 2024, compared to net income from continuing operations of $40.4 million, or $1.65 per diluted share, for the third quarter of 2023. Excluding the $180.0 million merger termination payment received from WillScot Mobile Mini and $39.4 million in transaction costs incu
McGrath RentCorp ("McGrath" or the "Company") (NASDAQ:MGRC), a leading business-to-business rental company in North America, today announced plans to release financial results for its third quarter ending September 30, 2024, after the close of regular market trading on Thursday, October 24, 2024. McGrath RentCorp will host a conference call at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) that afternoon to discuss the results. The conference call may be accessed by dialing 1-800-245-3047 (international callers dial 1-203-518-9765), or by listening to the simultaneous webcast on https://investors.mgrc.com/. A replay will be available for 7 days following the call by dialing 1-800-753-9146
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Oppenheimer resumed coverage of McGrath RentCorp with a rating of Outperform and set a new price target of $120.00
Sidoti upgraded McGrath RentCorp from Neutral to Buy and set a new price target of $127.00
Sidoti downgraded McGrath RentCorp from Buy to Neutral and set a new price target of $106.00
McGrath RentCorp ("McGrath" or the "Company") (NASDAQ:MGRC), a leading business-to-business rental company, today announced that it will hold a special meeting of its shareholders ("Special Meeting") on Thursday, July 11, 2024 to vote on the previously announced proposed acquisition by WillScot Mobile Mini (NASDAQ:WSC) and other related proposals.
McGrath RentCorp (NASDAQ:MGRC) reported quarterly earnings of $0.93 per share which beat the analyst consensus estimate of $0.73 by 27.4 percent. This is a 97.87 percent increase over earnings of $0.47 per share from the same period last year. The company reported quarterly sales of $187.827 million which beat the analyst consensus estimate of $172.078 million by 9.15 percent. This is a 14.73 percent increase over sales of $163.718 million the same period last year.
The Company also announced that the board of directors declared a cash dividend of $0.475 per share for the upcoming quarter ending March 31, 2024, a quarterly increase of $0.01, or 2%, over the prior year period. The cash dividend will be payable on April 30, 2024 to all shareholders of record on April 16, 2024. This marks 33 consecutive years the Company has increased its annual dividend.
McGrath RentCorp ("McGrath" or the "Company") (NASDAQ:MGRC), a leading business-to-business rental company in North America, today announced total revenues from continuing operations for the quarter ended September 30, 2024 of $266.8 million, an increase of 10% compared to the third quarter of 2023. The Company reported net income from continuing operations of $149.3 million, or $6.08 per diluted share, for the third quarter of 2024, compared to net income from continuing operations of $40.4 million, or $1.65 per diluted share, for the third quarter of 2023. Excluding the $180.0 million merger termination payment received from WillScot Mobile Mini and $39.4 million in transaction costs incu
McGrath RentCorp ("McGrath" or the "Company") (NASDAQ:MGRC), a leading business-to-business rental company in North America, today announced plans to release financial results for its third quarter ending September 30, 2024, after the close of regular market trading on Thursday, October 24, 2024. McGrath RentCorp will host a conference call at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) that afternoon to discuss the results. The conference call may be accessed by dialing 1-800-245-3047 (international callers dial 1-203-518-9765), or by listening to the simultaneous webcast on https://investors.mgrc.com/. A replay will be available for 7 days following the call by dialing 1-800-753-9146
McGrath to receive $180 million termination fee from WillScot Board increases share repurchase authorization to 2 million shares McGrath to provide updates on financial outlook, business strategy and capital allocation during its third-quarter earnings conference call on October 24, 2024 McGrath RentCorp ("McGrath" or the "Company") (NASDAQ:MGRC), a leading business-to-business rental company in North America, today confirmed that WillScot Holdings Corporation ("WillScot") (NASDAQ:WSC) and the Company mutually agreed to terminate their previously announced merger agreement. In accordance with the terms of the merger agreement, McGrath is receiving a termination fee of $180 million. Jose
McGrath RentCorp ("McGrath" or the "Company") (NASDAQ:MGRC), a leading business-to-business rental company in North America, today announced the appointment of Nicolas (Nic) Anderson to the Company's Board of Directors. Bradley Shuster, Chairman of McGrath RentCorp's Board stated: "We are very pleased to welcome Nicolas to our Board. He is not only an accomplished leader with an extensive background as an executive in finance, he also has a strong entrepreneurial background. Nic's experience and perspective will be a valuable complement to McGrath's Board." Mr. Anderson is a founder and Managing Partner of Elm Grove Partners, an entrepreneurial private equity firm focused on control inves
NEW YORK, Jan. 27, 2021 (GLOBE NEWSWIRE) -- WisdomTree Investments, Inc. (NASDAQ: WETF), an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager, today announced that Smita Conjeevaram has been appointed to WisdomTree’s Board of Directors. Jonathan Steinberg, WisdomTree CEO, said, “It is my pleasure to welcome Smita to WisdomTree’s Board. Having held several leadership positions within the financial services industry for many years, Smita’s financial, accounting and compliance background, global experience and track record of success in guiding companies through significant growth will be a tremendous asset to WisdomTree and our stockholders. Furtherm
LIVERMORE, Calif.--(BUSINESS WIRE)--McGrath RentCorp (NASDAQ: MGRC) (the “Company”), a diversified business-to-business rental company, today announced the appointment of Smita Conjeevaram to the Company’s Board of Directors. Ron Zech, Chairman of McGrath RentCorp’s Board stated: “We are very pleased to welcome Smita to our Board. She is not only an accomplished leader with an extensive background as an executive in finance, she also has a global perspective and track-record of success in guiding companies through significant growth, and building scalable infrastructures, controls, and technology. Smita’s experience and perspective will be a valuable complement to McGrath RentCorp’