Graco (NYSE:GGG) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Graco (NYSE:GGG) released its quarterly earnings data on Tuesday. The industrial products company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.01, MarketWatch Earnings reports. Graco had a return on equity of 30.60% and a net margin of 20.99%. The business had revenue of $507.16 million for the quarter, compared to analysts’ expectations of $478.01 million. During the same quarter in the previous year, the business posted $0.37 EPS. Graco’s revenue for the quarter was up 38.2% on a year-over-year basis.

Shares of NYSE:GGG traded down $2.22 during trading on Thursday, hitting $76.10. 28,403 shares of the company were exchanged, compared to its average volume of 641,551. The stock has a market capitalization of $12.89 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 3.89 and a beta of 0.59. Graco has a fifty-two week low of $52.10 and a fifty-two week high of $79.37. The firm has a fifty day simple moving average of $75.29. The company has a current ratio of 3.48, a quick ratio of 2.52 and a debt-to-equity ratio of 0.11.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 4th. Shareholders of record on Monday, July 19th will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, July 16th. Graco’s dividend payout ratio (DPR) is 38.46%.

In related news, insider Dale D. Johnson sold 19,297 shares of the business’s stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $77.05, for a total transaction of $1,486,833.85. Following the transaction, the insider now directly owns 194,105 shares of the company’s stock, valued at approximately $14,955,790.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lee R. Mitau sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 27th. The stock was sold at an average price of $77.02, for a total value of $1,386,360.00. Following the transaction, the director now directly owns 184,262 shares in the company, valued at $14,191,859.24. The disclosure for this sale can be found here. 3.63% of the stock is owned by insiders.

GGG has been the topic of several research reports. Royal Bank of Canada boosted their target price on Graco from $81.00 to $89.00 and gave the company an “outperform” rating in a research note on Friday, April 23rd. Morgan Stanley boosted their target price on Graco from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, April 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $76.00.

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 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 for Graco (NYSE:GGG)

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