Analysts Anticipate Graco Inc. (NYSE:GGG) Will Announce Earnings of $0.50 Per Share

Equities research analysts expect that Graco Inc. (NYSE:GGG) will post earnings of $0.50 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Graco’s earnings, with the highest EPS estimate coming in at $0.53 and the lowest estimate coming in at $0.47. Graco reported earnings per share of $0.38 in the same quarter last year, which would suggest a positive year over year growth rate of 31.6%. The business is scheduled to issue its next quarterly earnings results on Wednesday, April 28th.

According to Zacks, analysts expect that Graco will report full-year earnings of $2.34 per share for the current fiscal year, with EPS estimates ranging from $2.17 to $2.63. For the next year, analysts anticipate that the business will post earnings of $2.52 per share, with EPS estimates ranging from $2.32 to $2.86. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Graco.

Graco (NYSE:GGG) last announced its earnings results on Sunday, January 24th. The industrial products company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The business had revenue of $470.34 million during the quarter, compared to analyst estimates of $426.52 million. Graco had a net margin of 18.88% and a return on equity of 29.38%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS.

Several research analysts have commented on GGG shares. Jefferies Financial Group raised shares of Graco from a “hold” rating to a “buy” rating and increased their price objective for the company from $65.00 to $90.00 in a report on Tuesday, January 19th. DA Davidson upped their target price on shares of Graco from $57.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. Finally, Royal Bank of Canada upped their target price on shares of Graco from $78.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, January 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $74.20.

Graco stock traded down $0.37 during mid-day trading on Tuesday, hitting $69.02. The stock had a trading volume of 5,995 shares, compared to its average volume of 711,351. The firm has a market capitalization of $11.65 billion, a P/E ratio of 39.53, a P/E/G ratio of 4.45 and a beta of 0.56. The company has a current ratio of 3.25, a quick ratio of 2.38 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $72.45 and its 200 day moving average is $66.14. Graco has a one year low of $38.43 and a one year high of $76.98.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Monday, April 19th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Friday, April 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.09%. Graco’s dividend payout ratio is currently 39.47%.

In other Graco news, Director Sant R. William Van sold 13,938 shares of the firm’s stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $70.04, for a total value of $976,217.52. Following the completion of the sale, the director now directly owns 13,938 shares in the company, valued at $976,217.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David M. Lowe sold 54,000 shares of the firm’s stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $71.55, for a total transaction of $3,863,700.00. Following the completion of the sale, the insider now owns 604,239 shares of the company’s stock, valued at $43,233,300.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,496 shares of company stock worth $6,410,310. Insiders own 4.12% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Graco by 1.1% in the fourth quarter. BlackRock Inc. now owns 14,326,493 shares of the industrial products company’s stock valued at $1,036,521,000 after acquiring an additional 159,092 shares in the last quarter. WCM Investment Management LLC boosted its stake in Graco by 17.2% in the fourth quarter. WCM Investment Management LLC now owns 4,708,607 shares of the industrial products company’s stock valued at $340,668,000 after acquiring an additional 689,880 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Graco by 4.7% in the third quarter. Neuberger Berman Group LLC now owns 2,337,549 shares of the industrial products company’s stock valued at $142,718,000 after acquiring an additional 105,266 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Graco by 45.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,690,363 shares of the industrial products company’s stock valued at $122,296,000 after acquiring an additional 527,502 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Graco by 2,871.4% in the third quarter. Allianz Asset Management GmbH now owns 1,382,079 shares of the industrial products company’s stock valued at $84,791,000 after acquiring an additional 1,335,566 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

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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