Graco (GGG) Set to Announce Quarterly Earnings on Wednesday

Graco (NYSE:GGG) is scheduled to be announcing its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.74 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Graco had a net margin of 23.07% and a return on equity of 24.61%. The company had revenue of $566.64 million during the quarter, compared to analyst estimates of $565.86 million. On average, analysts expect Graco to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Graco Trading Down 0.2 %

Shares of GGG opened at $88.20 on Tuesday. The company has a market cap of $14.86 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 2.81 and a beta of 0.81. The business’s fifty day simple moving average is $91.19 and its two-hundred day simple moving average is $84.71. Graco has a 12 month low of $68.78 and a 12 month high of $94.77.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, April 12th. Graco’s payout ratio is currently 34.69%.

Insiders Place Their Bets

In other news, insider Timothy R. White sold 2,895 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $87.49, for a total transaction of $253,283.55. Following the completion of the sale, the insider now owns 50,782 shares of the company’s stock, valued at approximately $4,442,917.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Graco news, insider Timothy R. White sold 2,895 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $87.49, for a total value of $253,283.55. Following the transaction, the insider now directly owns 50,782 shares in the company, valued at $4,442,917.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony J. Gargano sold 1,395 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $88.00, for a total transaction of $122,760.00. Following the sale, the insider now directly owns 5,697 shares of the company’s stock, valued at approximately $501,336. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,378 shares of company stock valued at $4,376,528. Insiders own 2.63% of the company’s stock.

Analyst Upgrades and Downgrades

GGG has been the subject of a number of recent analyst reports. StockNews.com raised Graco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada boosted their price objective on shares of Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Jefferies Financial Group raised their target price on shares of Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.80.

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. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.