$1.05 Earnings Per Share Expected for Graco Inc. (GGG) This Quarter
Brokerages expect Graco Inc. (NYSE:GGG) to announce $1.05 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Graco’s earnings. The lowest EPS estimate is $1.02 and the highest is $1.08. Graco reported earnings per share of $0.95 in the same quarter last year, which suggests 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.
According to Zacks, analysts expect that Graco will report full year earnings of $4.52 per share for the current fiscal year, with EPS estimates ranging from $4.49 to $4.56. For the next year, analysts forecast that the company will report earnings of $4.57 per share, with EPS estimates ranging from $4.40 to $4.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover 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, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.32. The company had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. Graco had a return on equity of 40.21% and a net margin of 6.50%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share.
Several equities analysts recently commented on GGG shares. BidaskClub cut Graco from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Wolfe Research restated a “market perform” rating on shares of Graco in a research note on Tuesday, August 1st. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Graco in a report on Friday, July 28th. Finally, FBR & Co reiterated a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $106.20.
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Shares of Graco (NYSE:GGG) opened at 124.81 on Tuesday. The firm’s 50 day moving average is $117.33 and its 200-day moving average is $109.07. The company has a market capitalization of $6.99 billion, a P/E ratio of 79.19 and a beta of 1.25. Graco has a 52-week low of $69.33 and a 52-week high of $124.90.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, October 13th. Graco’s dividend payout ratio is currently 92.90%.
In other Graco news, Director Eric Etchart sold 757 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $119.20, for a total value of $90,234.40. Following the completion of the sale, the director now directly owns 12,464 shares of the company’s stock, valued at $1,485,708.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David M. Lowe sold 30,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the completion of the sale, the insider now directly owns 164,809 shares of the company’s stock, valued at $19,035,439.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,499 shares of company stock valued at $7,663,509. Company insiders own 5.70% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in shares of Graco by 106.1% in the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after buying an additional 578 shares during the period. Acrospire Investment Management LLC lifted its stake in shares of Graco by 200.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $131,000 after acquiring an additional 800 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of Graco in the 2nd quarter valued at about $180,000. Mosaic Family Wealth LLC boosted 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 acquiring an additional 91 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Graco during the 1st quarter valued at about $206,000. 86.82% of the stock is currently owned by hedge funds and other institutional investors.
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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