Graco Inc. (NYSE:GGG) Expected to Announce Earnings of $0.61 Per Share


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Equities research analysts predict that Graco Inc. (NYSE:GGG) will report earnings per share of $0.61 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Graco’s earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.56. Graco posted earnings of $0.37 per share during the same quarter last year, which would indicate a positive year over year growth rate of 64.9%. The business is scheduled to announce its next earnings report on Wednesday, July 28th.

On average, analysts expect that Graco will report full-year earnings of $2.49 per share for the current financial year, with EPS estimates ranging from $2.37 to $2.63. For the next year, analysts forecast that the firm will post earnings of $2.68 per share, with EPS estimates ranging from $2.55 to $2.86. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Graco.

Graco (NYSE:GGG) last released its earnings results on Tuesday, April 20th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. The company had revenue of $454.10 million for the quarter, compared to analyst estimates of $426.13 million. Graco had a return on equity of 29.38% and a net margin of 18.88%. Graco’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS.

GGG has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on Graco from $81.00 to $89.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. Jefferies Financial Group upgraded Graco from a “hold” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $90.00 in a research report on Tuesday, January 19th. DA Davidson upped their price objective on Graco from $57.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their price objective on Graco from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $76.00.

In other news, Director Eric Etchart sold 5,100 shares of the firm’s stock in a transaction dated Thursday, April 22nd. The stock was sold at an average price of $77.20, for a total transaction of $393,720.00. Also, insider Christian E. Rothe sold 59,340 shares of the firm’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $70.00, for a total value of $4,153,800.00. Following the transaction, the insider now owns 51,728 shares of the company’s stock, valued at $3,620,960. The disclosure for this sale can be found here. Insiders sold 184,929 shares of company stock valued at $13,330,699 over the last quarter. Corporate insiders own 4.12% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in shares of Graco by 503.4% during the first quarter. Jones Financial Companies Lllp now owns 356 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 297 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Graco during the first quarter worth about $28,000. Childress Capital Advisors LLC bought a new position in shares of Graco during the fourth quarter worth about $29,000. CWM LLC grew its stake in Graco by 147.3% during the first quarter. CWM LLC now owns 460 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 274 shares during the period. Finally, DB Wealth Management Group LLC acquired a new stake in Graco during the fourth quarter worth approximately $35,000. Institutional investors own 84.08% of the company’s stock.

Shares of GGG stock traded up $1.14 on Tuesday, hitting $77.63. 710,795 shares of the company’s stock were exchanged, compared to its average volume of 795,832. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.25 and a quick ratio of 2.38. Graco has a 12 month low of $41.79 and a 12 month high of $78.29. The stock has a market cap of $13.15 billion, a P/E ratio of 44.59, a price-to-earnings-growth ratio of 4.45 and a beta of 0.56. The company has a 50 day moving average of $73.43 and a 200 day moving average of $70.44.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Monday, April 19th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, April 16th. This represents a $0.75 annualized dividend and a yield of 0.97%. Graco’s dividend payout ratio is presently 39.47%.

About Graco

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies and Industrial Products divisions.

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Earnings History and Estimates for Graco (NYSE:GGG)

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