Zacks: Brokerages Anticipate Graco Inc. (NYSE:GGG) to Post $0.63 Earnings Per Share

Analysts expect that Graco Inc. (NYSE:GGGGet Rating) will post earnings of $0.63 per share for the current quarter, according to Zacks. Six analysts have provided estimates for Graco’s earnings. The lowest EPS estimate is $0.57 and the highest is $0.78. Graco reported earnings of $0.58 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The business is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Graco will report full-year earnings of $2.75 per share for the current fiscal year, with EPS estimates ranging from $2.60 to $3.10. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.99 per share, with EPS estimates ranging from $2.70 to $3.60. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Graco.

Graco (NYSE:GGGGet Rating) last issued its quarterly earnings data on Monday, January 31st. The industrial products company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. The business had revenue of $539.62 million for the quarter, compared to the consensus estimate of $522.60 million. Graco had a return on equity of 27.74% and a net margin of 22.13%. During the same quarter last year, the business posted $0.61 EPS.

A number of equities analysts have issued reports on GGG shares. StockNews.com started coverage on Graco in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating and set a $73.00 target price for the company. in a report on Thursday, April 7th. Finally, Seaport Res Ptn reiterated a “neutral” rating on shares of Graco in a report on Wednesday, February 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $78.00.

In related news, CFO David M. Lowe sold 28,001 shares of Graco stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $70.70, for a total transaction of $1,979,670.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.52% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. lifted its position in Graco by 400.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 355 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 284 shares during the last quarter. Amplius Wealth Advisors LLC acquired a new stake in Graco during the fourth quarter worth approximately $30,000. Duncker Streett & Co. Inc. lifted its position in Graco by 51.7% during the fourth quarter. Duncker Streett & Co. Inc. now owns 408 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 139 shares during the last quarter. Allworth Financial LP lifted its position in Graco by 804.3% during the first quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 378 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in Graco during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 83.49% of the company’s stock.

Graco stock traded down $1.49 during mid-day trading on Friday, hitting $64.47. 2,544 shares of the company’s stock were exchanged, compared to its average volume of 651,404. The firm has a market capitalization of $10.92 billion, a P/E ratio of 26.17, a PEG ratio of 3.08 and a beta of 0.71. Graco has a fifty-two week low of $64.55 and a fifty-two week high of $81.09. The company has a quick ratio of 1.94, a current ratio of 2.69 and a debt-to-equity ratio of 0.04. The company’s 50 day simple moving average is $69.49 and its 200-day simple moving average is $73.45.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 4th. Stockholders of record on Monday, April 18th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, April 14th. Graco’s payout ratio is 33.33%.

About Graco (Get Rating)

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.

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Earnings History and Estimates for Graco (NYSE:GGG)

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