Graco Inc. (NYSE:GGG) Expected to Announce Earnings of $0.60 Per Share

Wall Street analysts forecast that Graco Inc. (NYSE:GGG) will post earnings of $0.60 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Graco’s earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.64. Graco posted earnings of $0.37 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 62.2%. The firm is expected to announce its next quarterly earnings results on Wednesday, July 28th.

On average, analysts expect that Graco will report full-year earnings of $2.47 per share for the current fiscal year, with EPS estimates ranging from $2.37 to $2.61. For the next financial year, analysts forecast that the firm will post earnings of $2.66 per share, with EPS estimates ranging from $2.55 to $2.81. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Graco.

Graco (NYSE:GGG) last posted its quarterly earnings data on Tuesday, April 20th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.08. Graco had a return on equity of 30.60% and a net margin of 20.99%. The firm had revenue of $454.10 million for the quarter, compared to the consensus estimate of $426.13 million. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year.

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on Graco from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, April 23rd. Royal Bank of Canada lifted their target price on Graco from $81.00 to $89.00 and gave the company an “outperform” rating in a research note on Friday, April 23rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.00.

NYSE:GGG traded down $0.22 on Thursday, hitting $73.48. 343,199 shares of the company’s stock traded hands, compared to its average volume of 715,360. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.52 and a current ratio of 3.48. Graco has a 1 year low of $45.48 and a 1 year high of $79.37. The firm’s 50-day simple moving average is $75.50. The firm has a market capitalization of $12.45 billion, a P/E ratio of 34.99, a PEG ratio of 3.78 and a beta of 0.59.

In related news, insider Christian E. Rothe sold 59,340 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 51,728 shares of the company’s stock, valued at approximately $3,620,960. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eric Etchart sold 5,100 shares of the business’s stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $77.20, for a total value of $393,720.00. In the last three months, insiders sold 101,737 shares of company stock valued at $7,420,714. 3.63% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in GGG. Captrust Financial Advisors boosted its position in Graco by 5.0% during the first quarter. Captrust Financial Advisors now owns 3,167 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 151 shares during the period. Somerset Trust Co boosted its position in Graco by 4.3% during the first quarter. Somerset Trust Co now owns 3,795 shares of the industrial products company’s stock worth $272,000 after purchasing an additional 156 shares during the period. Creative Planning boosted its position in Graco by 0.9% during the fourth quarter. Creative Planning now owns 17,992 shares of the industrial products company’s stock worth $1,302,000 after purchasing an additional 158 shares during the period. K.J. Harrison & Partners Inc boosted its position in Graco by 0.8% during the first quarter. K.J. Harrison & Partners Inc now owns 20,960 shares of the industrial products company’s stock worth $1,501,000 after purchasing an additional 160 shares during the period. Finally, Institutional & Family Asset Management LLC boosted its position in Graco by 1.0% during the first quarter. Institutional & Family Asset Management LLC now owns 15,792 shares of the industrial products company’s stock worth $1,131,000 after purchasing an additional 161 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.

About Graco

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.

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Earnings History and Estimates for Graco (NYSE:GGG)

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