Q2 2024 EPS Estimates for The Gorman-Rupp Company Reduced by Analyst (NYSE:GRC)

The Gorman-Rupp Company (NYSE:GRC) – Equities researchers at Sidoti Csr lowered their Q2 2024 earnings per share estimates for shares of Gorman-Rupp in a research report issued on Friday, April 26th. Sidoti Csr analyst J. Franzreb now forecasts that the industrial products company will earn $0.42 per share for the quarter, down from their prior 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 (NYSE:GRC) last announced its earnings results on Thursday, April 25th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). Gorman-Rupp had a return on equity of 10.60% and a net margin of 5.52%. The company had revenue of $159.27 million for the quarter, compared to analysts’ expectations of $168.49 million.

Gorman-Rupp Stock Up 6.1 %

Shares of NYSE GRC opened at $33.38 on Monday. The company has a quick ratio of 1.31, a current ratio of 2.35 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $37.20 and its two-hundred day moving average is $34.50. Gorman-Rupp has a 52-week low of $23.62 and a 52-week high of $40.00. The firm has a market cap of $875.22 million, a price-to-earnings ratio of 24.19, a PEG ratio of 1.63 and a beta of 0.92.

Gorman-Rupp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.16%. The ex-dividend date is Tuesday, May 14th. Gorman-Rupp’s payout ratio is 52.17%.

Institutional Trading of Gorman-Rupp

Hedge funds have recently made changes to their positions in the business. Gamco Investors INC. ET AL boosted 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 valued at $18,182,000 after buying an additional 15,300 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Gorman-Rupp by 380.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,854 shares of the industrial products company’s stock valued at $1,558,000 after buying an additional 34,728 shares during the last quarter. Global Retirement Partners LLC lifted its position in Gorman-Rupp by 92.2% in the fourth quarter. Global Retirement Partners LLC now owns 2,706 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 1,298 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 worth $74,230,000 after purchasing an additional 19,797 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position 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 period. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

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.