Q2 2022 Earnings Forecast for Graco Inc. Issued By Seaport Res Ptn (NYSE:GGG)

Graco Inc. (NYSE:GGGGet Rating) – Seaport Res Ptn dropped their Q2 2022 EPS estimates for Graco in a report released on Friday, April 29th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings of $0.66 per share for the quarter, down from their previous forecast of $0.67. Seaport Res Ptn currently has a “Neutral” rating on the stock. Seaport Res Ptn also issued estimates for Graco’s Q3 2022 earnings at $0.65 EPS, Q4 2022 earnings at $0.74 EPS, FY2022 earnings at $2.62 EPS, Q2 2023 earnings at $0.70 EPS, Q3 2023 earnings at $0.69 EPS, Q4 2023 earnings at $0.77 EPS and FY2023 earnings at $2.83 EPS.

A number of other equities research analysts have also recently issued reports on GGG. DA Davidson restated a “neutral” rating on shares of Graco in a report on Thursday. Robert W. Baird lowered their price objective on shares of Graco from $80.00 to $71.00 in a research report on Friday. Zacks Investment Research downgraded shares of Graco from a “buy” rating to a “hold” rating and set a $73.00 price objective for the company. in a research report on Thursday, April 7th. Finally, StockNews.com raised shares of Graco from a “hold” rating to a “buy” rating in a research note on Monday, April 25th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Graco presently has an average rating of “Buy” and an average price target of $75.67.

Shares of NYSE GGG opened at $62.02 on Monday. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 2.94 and a beta of 0.71. The business has a 50-day moving average of $68.76 and a 200-day moving average of $73.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.69 and a quick ratio of 1.94. Graco has a fifty-two week low of $61.95 and a fifty-two week high of $81.09.

Graco (NYSE:GGGGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The industrial products company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.05). The company had revenue of $494.29 million during the quarter, compared to analyst estimates of $503.33 million. Graco had a net margin of 21.45% and a return on equity of 26.72%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $0.58 EPS.

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

In other news, CFO David M. Lowe sold 28,001 shares of the company’s stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $70.70, for a total transaction of $1,979,670.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.52% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 4th. Stockholders of record on Monday, April 18th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, April 14th. Graco’s dividend payout ratio (DPR) is 33.74%.

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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