The Gorman-Rupp Company to Post Q2 2024 Earnings of $0.42 Per Share, Sidoti Csr Forecasts (NYSE:GRC)

The Gorman-Rupp Company (NYSE:GRC) – Sidoti Csr lowered their Q2 2024 earnings estimates for Gorman-Rupp in a report issued on Friday, April 26th. Sidoti Csr analyst J. Franzreb now forecasts that the industrial products company will post earnings of $0.42 per share for the quarter, down from their previous estimate of $0.46. The consensus estimate for Gorman-Rupp’s current full-year earnings is $1.55 per share. Sidoti Csr also issued estimates for Gorman-Rupp’s Q3 2024 earnings at $0.42 EPS, Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.55 EPS, Q1 2025 earnings at $0.36 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.53 EPS and Q4 2025 earnings at $0.47 EPS.

Gorman-Rupp Trading Up 0.4 %

Shares of GRC stock opened at $33.22 on Monday. The stock’s 50-day moving average price is $37.11 and its 200-day moving average price is $34.52. Gorman-Rupp has a 12-month low of $23.62 and a 12-month high of $40.00. The stock has a market capitalization of $870.90 million, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 1.66 and a beta of 0.92. The company has a current ratio of 2.35, a quick ratio of 1.31 and a debt-to-equity ratio of 1.09.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $159.27 million during the quarter, compared to analysts’ expectations of $168.49 million. Gorman-Rupp had a return on equity of 10.60% and a net margin of 5.52%.

Institutional Investors Weigh In On Gorman-Rupp

Several large investors have recently bought and sold shares of GRC. Gamco Investors INC. ET AL grew its stake in shares of Gorman-Rupp by 2.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 552,638 shares of the industrial products company’s stock worth $18,182,000 after buying an additional 15,300 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Gorman-Rupp by 380.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,854 shares of the industrial products company’s stock worth $1,558,000 after acquiring an additional 34,728 shares in the last quarter. Global Retirement Partners LLC increased its stake in Gorman-Rupp by 92.2% during the fourth quarter. Global Retirement Partners LLC now owns 2,706 shares of the industrial products company’s stock worth $88,000 after acquiring an additional 1,298 shares during the last quarter. Vanguard Group Inc. raised its position in Gorman-Rupp by 0.9% during the third quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company’s stock valued at $74,230,000 after purchasing an additional 19,797 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Gorman-Rupp by 9.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 544,399 shares of the industrial products company’s stock valued at $17,911,000 after purchasing an additional 46,396 shares during the last quarter. Institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, May 14th. Gorman-Rupp’s payout ratio is 52.17%.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company's products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.