Zacks: Analysts Anticipate Graco Inc. (GGG) Will Announce Earnings of $0.43 Per Share

Wall Street brokerages forecast that Graco Inc. (NYSE:GGG) will announce $0.43 earnings per share (EPS) for the current quarter, Zacks reports. Eight analysts have provided estimates for Graco’s earnings, with estimates ranging from $0.41 to $0.45. Graco posted earnings per share of $0.34 during the same quarter last year, which indicates a positive year over year growth rate of 26.5%. The company is scheduled to announce its next earnings results on Monday, February 4th.

According to Zacks, analysts expect that Graco will report full-year earnings of $1.88 per share for the current fiscal year, with EPS estimates ranging from $1.86 to $1.91. For the next financial year, analysts forecast that the business will post earnings of $2.02 per share, with EPS estimates ranging from $1.98 to $2.08. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Graco.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. Graco had a return on equity of 42.19% and a net margin of 18.73%. The business had revenue of $415.94 million during the quarter, compared to the consensus estimate of $403.62 million.

A number of brokerages have commented on GGG. Oppenheimer restated a “hold” rating on shares of Graco in a research note on Thursday, July 26th. Royal Bank of Canada restated a “hold” rating and issued a $49.00 target price on shares of Graco in a research note on Friday, July 27th. Zacks Investment Research downgraded Graco from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. DA Davidson set a $49.00 target price on Graco and gave the company a “hold” rating in a research note on Monday, August 20th. Finally, ValuEngine downgraded Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Graco currently has an average rating of “Hold” and a consensus price target of $48.67.

In other news, Director Jack W. Eugster sold 32,297 shares of Graco stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $46.66, for a total transaction of $1,506,978.02. Following the sale, the director now owns 103,251 shares of the company’s stock, valued at $4,817,691.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Caroline M. Chambers sold 97,500 shares of Graco stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $47.10, for a total value of $4,592,250.00. Following the sale, the insider now directly owns 119,092 shares in the company, valued at approximately $5,609,233.20. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GGG. Signaturefd LLC raised its holdings in shares of Graco by 727.8% during the second quarter. Signaturefd LLC now owns 2,235 shares of the industrial products company’s stock valued at $101,000 after buying an additional 1,965 shares during the last quarter. Fort L.P. bought a new stake in shares of Graco during the second quarter valued at approximately $119,000. Itau Unibanco Holding S.A. bought a new stake in shares of Graco during the second quarter valued at approximately $162,000. Meeder Asset Management Inc. raised its holdings in shares of Graco by 51.9% during the second quarter. Meeder Asset Management Inc. now owns 4,086 shares of the industrial products company’s stock valued at $185,000 after buying an additional 1,396 shares during the last quarter. Finally, Hengehold Capital Management LLC bought a new stake in Graco during the third quarter worth approximately $202,000. 85.66% of the stock is currently owned by institutional investors.

GGG stock traded up $0.51 during midday trading on Thursday, reaching $42.99. The company had a trading volume of 739,686 shares, compared to its average volume of 1,080,550. The company has a quick ratio of 1.71, a current ratio of 2.77 and a debt-to-equity ratio of 0.33. Graco has a fifty-two week low of $37.36 and a fifty-two week high of $49.69. The company has a market cap of $7.07 billion, a P/E ratio of 30.06, a PEG ratio of 2.82 and a beta of 1.17.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 7th. Shareholders of record on Monday, October 22nd were paid a $0.1325 dividend. The ex-dividend date of this dividend was Friday, October 19th. This represents a $0.53 dividend on an annualized basis and a yield of 1.23%. Graco’s payout ratio is currently 37.06%.

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.

See Also: Hedge Funds – How They Work For Investors

Get a free copy of the Zacks research report on Graco (GGG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Graco (NYSE:GGG)

Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply