Graco Inc. (GGG) Expected to Post Earnings of $1.05 Per Share
Equities analysts expect Graco Inc. (NYSE:GGG) to post $1.05 earnings per share (EPS) 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 reported earnings per share of $0.95 in the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The company is expected to report its next quarterly earnings report after the market closes on Wednesday, October 25th.
On average, analysts expect that Graco will report full year earnings of $4.52 per share for the current financial year, with EPS estimates ranging from $4.49 to $4.58. For the next year, analysts anticipate that the firm will report earnings of $4.59 per share, with EPS estimates ranging from $4.40 to $4.75. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Graco.
Graco (NYSE:GGG) last issued its 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 for the quarter, compared to analyst estimates of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 EPS.
A number of equities analysts have recently commented on the stock. Robert W. Baird reaffirmed a “hold” rating and set a $129.00 price objective on shares of Graco in a report on Wednesday. BidaskClub downgraded shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Wolfe Research reaffirmed a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Graco in a report on Friday, July 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $110.00.
Shares of Graco (GGG) traded up 0.25% during midday trading on Tuesday, hitting $124.92. 235,657 shares of the stock were exchanged. The firm has a market cap of $6.99 billion, a P/E ratio of 79.26 and a beta of 1.25. The stock’s 50 day moving average is $118.49 and its 200 day moving average is $109.72. Graco has a 12-month low of $69.33 and a 12-month high of $125.55.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 16th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, October 13th. Graco’s dividend payout ratio is currently 92.90%.
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In related news, insider David M. Lowe sold 30,000 shares of Graco stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the completion of the transaction, the insider now directly owns 164,809 shares of the company’s stock, valued at approximately $19,035,439.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of Graco stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the transaction, the vice president now directly owns 27,264 shares of the company’s stock, valued at $3,135,360. The disclosure for this sale can be found here. Insiders have sold a total of 68,258 shares of company stock valued at $7,758,309 over the last three months. 5.70% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its holdings in Graco by 106.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 578 shares during the last quarter. Acrospire Investment Management LLC lifted its holdings in Graco by 200.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 800 shares during the last quarter. Fiduciary Trust Co. bought a new position in Graco during the 2nd quarter valued at about $180,000. Mosaic Family Wealth LLC lifted its holdings in Graco by 5.1% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 91 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in Graco during the 1st quarter valued at about $206,000. 86.82% of the stock is owned by hedge funds and other institutional investors.
Graco Company Profile
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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