Why is the McGrath (ASX:MEA) share price surging 8% today?

McGrath Ltd (ASX: MEA) shares are on the rise today after the company provided a trading update. At the time of writing, the McGrath share price has surged 8.33% to 45.5 cents today. This comes after the company reported its earnings will be in the range of $6 million to $6.5 million for the first half of FY21 – an increase of $4.7 million on the same time last year.

What else is moving the McGrath share price?

Investors are driving the McGrath share price higher as the property services provider advised, with its projected earnings, dividend payments are now a possibility from the first half of FY21. It says that the strong projection is a result of a relatively robust residential real estate market driven by historically low…