Sidoti Csr Comments on The Gorman-Rupp Company’s Q2 2024 Earnings (NYSE:GRC)

The Gorman-Rupp Company (NYSE:GRC) – Analysts at Sidoti Csr lowered their Q2 2024 earnings per share (EPS) estimates for Gorman-Rupp in a research report issued to clients and investors on Friday, April 26th. Sidoti Csr analyst J. Franzreb now forecasts that the industrial products company will post earnings per share of $0.42 for the quarter, down from their previous forecast of $0.46. The consensus estimate for Gorman-Rupp’s current full-year earnings is $1.55 per share. Sidoti Csr also issued estimates for Gorman-Rupp’s Q3 2024 earnings at $0.42 EPS, Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.55 EPS, Q1 2025 earnings at $0.36 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.53 EPS and Q4 2025 earnings at $0.47 EPS.

Gorman-Rupp Stock Up 0.4 %

Shares of Gorman-Rupp stock opened at $33.22 on Monday. The stock has a market capitalization of $870.90 million, a price-to-earnings ratio of 24.07, a PEG ratio of 1.66 and a beta of 0.92. Gorman-Rupp has a twelve month low of $23.62 and a twelve month high of $40.00. The company has a current ratio of 2.35, a quick ratio of 1.31 and a debt-to-equity ratio of 1.09. The business’s 50 day simple moving average is $37.11 and its 200-day simple moving average is $34.52.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). Gorman-Rupp had a return on equity of 10.60% and a net margin of 5.52%. The business had revenue of $159.27 million for the quarter, compared to analyst estimates of $168.49 million.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.17%. The ex-dividend date is Tuesday, May 14th. Gorman-Rupp’s dividend payout ratio is presently 52.17%.

Institutional Investors Weigh In On Gorman-Rupp

Hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System acquired a new stake in shares of Gorman-Rupp in the 1st quarter worth about $82,000. Global Retirement Partners LLC grew its position in Gorman-Rupp by 92.2% in the 4th quarter. Global Retirement Partners LLC now owns 2,706 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 1,298 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Gorman-Rupp in the fourth quarter valued at approximately $120,000. Swisher Financial Concepts Inc. bought a new stake in shares of Gorman-Rupp during the first quarter valued at approximately $216,000. Finally, Jump Financial LLC acquired a new position in shares of Gorman-Rupp during the third quarter worth approximately $217,000. 59.26% of the stock is currently owned by institutional investors.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company's products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.