Graco (NYSE:GGG) Posts Earnings Results, Misses Estimates By $0.02 EPS

Graco (NYSE:GGG) announced its quarterly earnings results on Wednesday. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02), FiscalAI reports. Graco had a net margin of 23.53% and a return on equity of 19.54%. The company had revenue of $586.39 million during the quarter, compared to analysts’ expectations of $589.73 million.

Graco Stock Up 0.9%

Shares of GGG stock traded up $0.74 during mid-day trading on Wednesday, hitting $81.83. 1,660,327 shares of the company’s stock were exchanged, compared to its average volume of 1,417,298. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 2.50 and a beta of 0.89. Graco has a fifty-two week low of $72.51 and a fifty-two week high of $95.69. The stock has a 50-day simple moving average of $78.79 and a two-hundred day simple moving average of $78.54.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Monday, October 19th will be issued a dividend of $0.2950 per share. The ex-dividend date is Monday, October 19th. This represents a $1.18 annualized dividend and a dividend yield of 1.4%. Graco’s dividend payout ratio (DPR) is 37.11%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Robert W. Baird set a $94.00 price objective on Graco in a report on Friday, July 24th. Weiss Ratings raised shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada reduced their target price on shares of Graco from $96.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Wolfe Research lowered shares of Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $94.75.

Graco Company Profile

Graco Inc is a global manufacturer of equipment used to move, measure, control, dispense and apply fluids and other materials. Its products are used in industrial, commercial and residential applications involving paints, coatings, sealants, adhesives, lubricants, chemicals and other fluids.

The company’s product portfolio includes pumps, valves, meters, regulators, fluid-management systems, lubrication equipment, spray-applied coating and finishing systems, sealant and adhesive equipment, and contractor-oriented painting and texture application tools.