Analysts Expect Graco (GGG) Will Post Earnings of $0.41 Per Share

Wall Street brokerages predict that Graco (NYSE:GGG) will announce earnings of $0.41 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Graco’s earnings, with the lowest EPS estimate coming in at $0.37 and the highest estimate coming in at $0.44. Graco posted earnings per share of $0.35 during the same quarter last year, which indicates a positive year-over-year growth rate of 17.1%. The company is expected to report its next earnings report after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that Graco will report full-year earnings of $1.78 per share for the current year, with EPS estimates ranging from $1.68 to $1.92. For the next financial year, analysts anticipate that the firm will post earnings of $1.95 per share, with EPS estimates ranging from $1.79 to $2.07. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Graco.

Graco (NYSE:GGG) last issued its earnings results on Monday, January 29th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $374.90 million during the quarter, compared to the consensus estimate of $369.53 million. Graco had a net margin of 17.12% and a return on equity of 40.08%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $1.00 EPS.

Several research analysts recently weighed in on GGG shares. Royal Bank of Canada reissued a “hold” rating and set a $49.00 price objective on shares of Graco in a research note on Thursday, January 4th. Oppenheimer reissued a “hold” rating on shares of Graco in a research note on Thursday, December 28th. B. Riley lifted their price objective on shares of Graco from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Deutsche Bank raised shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research lowered shares of Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Graco has an average rating of “Hold” and a consensus target price of $47.41.

Shares of NYSE GGG traded up $0.01 during mid-day trading on Friday, hitting $47.20. The company’s stock had a trading volume of 25,933 shares, compared to its average volume of 756,341. The firm has a market capitalization of $7,938.37, a PE ratio of 33.00, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15. The company has a current ratio of 2.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31. Graco has a one year low of $31.51 and a one year high of $49.69.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Monday, April 16th will be paid a $0.1325 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, April 13th. Graco’s payout ratio is currently 37.06%.

In other news, VP Karen Park Gallivan sold 27,000 shares of Graco stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $48.34, for a total value of $1,305,180.00. Following the sale, the vice president now directly owns 72,305 shares in the company, valued at $3,495,223.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Caroline M. Chambers sold 9,939 shares of Graco stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.03, for a total transaction of $417,736.17. Following the completion of the sale, the vice president now owns 30,615 shares in the company, valued at $1,286,748.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,564 shares of company stock worth $2,965,505. Insiders own 5.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Graco by 23.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,603 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 687 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Graco by 53.5% during the fourth quarter. Meeder Asset Management Inc. now owns 3,174 shares of the industrial products company’s stock worth $144,000 after buying an additional 1,106 shares during the last quarter. Valley National Advisers Inc. increased its holdings in Graco by 200.0% during the fourth quarter. Valley National Advisers Inc. now owns 2,385 shares of the industrial products company’s stock worth $108,000 after buying an additional 1,590 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Graco during the third quarter worth $223,000. Finally, New York State Common Retirement Fund increased its holdings in Graco by 1.7% during the third quarter. New York State Common Retirement Fund now owns 122,700 shares of the industrial products company’s stock worth $15,177,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 86.16% of the company’s stock.

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About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; 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.

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