Graco Inc. (GGG) Expected to Announce Earnings of $1.05 Per Share
Brokerages expect Graco Inc. (NYSE:GGG) to announce $1.05 earnings per share for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Graco’s earnings, with estimates ranging from $1.02 to $1.08. Graco posted earnings of $0.95 per share in the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The firm is scheduled to announce its next earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that Graco will report full year earnings of $4.52 per share for the current year, with EPS estimates ranging from $4.49 to $4.56. For the next fiscal year, analysts anticipate that the business will post earnings of $4.57 per share, with EPS estimates ranging from $4.40 to $4.75. Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for Graco.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.32. The business had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. Graco had a return on equity of 40.21% and a net margin of 6.50%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS.
Several analysts have weighed in on GGG shares. BidaskClub raised shares of Graco from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Monday, July 31st. Deutsche Bank AG reissued a “hold” rating and set a $110.00 target price (up previously from $105.00) on shares of Graco in a research report on Monday, June 5th. Royal Bank Of Canada reissued a “hold” rating and set a $104.00 target price on shares of Graco in a research report on Monday, June 5th. Finally, Wolfe Research reissued a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $106.20.
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In other news, VP Jeffrey P. Johnson sold 28,000 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $113.00, for a total value of $3,164,000.00. Following the sale, the vice president now directly owns 42,213 shares of the company’s stock, valued at approximately $4,770,069. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Etchart sold 793 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $113.90, for a total transaction of $90,322.70. Following the completion of the sale, the director now directly owns 11,224 shares in the company, valued at $1,278,413.60. The disclosure for this sale can be found here. Insiders sold a total of 59,021 shares of company stock worth $6,476,784 over the last ninety days. Insiders own 5.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in GGG. BlackRock Inc. increased its stake in Graco by 13,639.9% in the first quarter. BlackRock Inc. now owns 4,370,674 shares of the industrial products company’s stock valued at $411,455,000 after buying an additional 4,338,864 shares during the period. Koch Industries Inc. acquired a new stake in Graco during the second quarter valued at approximately $582,000. Parametric Portfolio Associates LLC increased its stake in Graco by 168.2% in the first quarter. Parametric Portfolio Associates LLC now owns 649,333 shares of the industrial products company’s stock valued at $61,128,000 after buying an additional 407,245 shares during the period. Vanguard Group Inc. increased its stake in Graco by 6.8% in the first quarter. Vanguard Group Inc. now owns 4,886,860 shares of the industrial products company’s stock valued at $460,049,000 after buying an additional 309,685 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in Graco during the second quarter valued at approximately $33,167,000. 90.10% of the stock is currently owned by institutional investors and hedge funds.
Graco (NYSE GGG) opened at 113.42 on Friday. The firm has a market cap of $6.35 billion, a P/E ratio of 71.97 and a beta of 1.25. The firm’s 50-day moving average price is $111.77 and its 200-day moving average price is $104.07. Graco has a 1-year low of $69.33 and a 1-year high of $116.75.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Thursday, July 13th. Graco’s dividend payout ratio (DPR) is currently 92.90%.
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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