Graco (GGG) Expected to Announce Earnings of $0.41 Per Share

Wall Street analysts predict that Graco (NYSE:GGG) will announce earnings of $0.41 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Graco’s earnings, with estimates ranging from $0.37 to $0.44. Graco posted earnings per share of $0.35 during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.1%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, April 25th.

On average, 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 fiscal year, analysts expect that the company will report earnings of $1.95 per share, with EPS estimates ranging from $1.79 to $2.07. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Graco.

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

GGG has been the subject of several research analyst reports. Zacks Investment Research cut shares of Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. B. Riley reaffirmed a “hold” rating and set a $46.67 target price on shares of Graco in a research note on Wednesday, December 20th. Royal Bank of Canada reaffirmed a “hold” rating and set a $49.00 target price on shares of Graco in a research note on Thursday, January 4th. Oppenheimer reaffirmed a “hold” rating on shares of Graco in a research note on Thursday, December 28th. Finally, Deutsche Bank upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $47.41.

GGG opened at $46.24 on Friday. The firm has a market cap of $7,757.07, a P/E ratio of 29.86, a P/E/G ratio of 2.75 and a beta of 1.15. Graco has a fifty-two week low of $30.80 and a fifty-two week high of $49.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.67.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Monday, April 16th will be given a dividend of $0.1325 per share. The ex-dividend date of this dividend is Friday, April 13th. This represents a $0.53 annualized dividend and a yield of 1.15%. Graco’s dividend payout ratio (DPR) is currently 37.06%.

In other news, Director William J. Carroll sold 26,625 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $46.67, for a total value of $1,242,588.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Caroline M. Chambers sold 9,939 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was 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 of the company’s stock, valued at approximately $1,286,748.45. The disclosure for this sale can be found here. Insiders have sold 63,564 shares of company stock valued at $2,965,505 in the last quarter. 5.10% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Valley National Advisers Inc. lifted its holdings in shares of Graco by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 2,385 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 1,590 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Graco by 53.5% in the 4th quarter. Meeder Asset Management Inc. now owns 3,174 shares of the industrial products company’s stock worth $144,000 after acquiring an additional 1,106 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Graco by 286.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,363 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 2,493 shares during the last quarter. Hexavest Inc. lifted its holdings in shares of Graco by 200.0% in the 4th quarter. Hexavest Inc. now owns 4,200 shares of the industrial products company’s stock worth $190,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Fiduciary Trust Co. bought a new stake in shares of Graco in the 4th quarter worth about $201,000. Hedge funds and other institutional investors own 86.16% of the company’s stock.

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Graco Company Profile

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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Earnings History and Estimates for Graco (NYSE:GGG)

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