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McGrath RentCorp (NASDAQ:MGRC) is set to give its latest quarterly earnings report on Thursday, 2023-07-27. Here's what investors need to know before the announcement.
Analysts estimate that McGrath RentCorp will report an earnings per share (EPS) of $0.99.
McGrath RentCorp bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Last quarter the company missed EPS by $0.36, which was followed by a 3.43% increase in the share price the next day.
Here's a look at McGrath RentCorp's past performance and the resulting price change:
| Quarter | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|
| EPS Estimate | 0.83 | 1.38 | 1.17 | 0.89 |
| EPS Actual | 0.47 | 1.62 | 1.25 | 1.07 |
| Price Change % | 3.43% | 1.41% | 11.63% | 1.96% |
Shares of McGrath RentCorp were trading at $92.92 as of July 25. Over the last 52-week period, shares are up 11.42%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.
To track all earnings releases for McGrath RentCorp visit their earnings calendar on our site.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
Posted In: MGRC
