Graco (NYSE:GGG) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Graco reported quarterly EPS of $0.81, missing analysts’ $0.83 consensus estimate by $0.02. Revenue was $586.39 million, also below the $589.73 million estimate.
• Shares rose 0.9% to $81.83 following the results. Graco has a market capitalization of approximately $13.25 billion and trades at a P/E ratio of 25.73.
• The company declared a quarterly dividend of $0.295 per share, equivalent to an annualized dividend of $1.18 and a 1.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $94.75.

Graco (NYSE:GGG - Get Free Report) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.02), FiscalAI reports. Graco had a return on equity of 19.54% and a net margin of 23.53%. The firm had revenue of $586.39 million during the quarter, compared to the consensus estimate of $589.73 million.

Graco Stock Up 0.9%

GGG traded up $0.74 during trading on Wednesday, hitting $81.83. 1,656,792 shares of the company traded hands, compared to its average volume of 1,415,081. Graco has a one year low of $72.51 and a one year high of $95.69. The stock's fifty day moving average is $78.79 and its 200 day moving average is $78.54. The firm has a market cap of $13.25 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 2.50 and a beta of 0.89.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Monday, October 19th will be given a dividend of $0.2950 per share. The ex-dividend date is Monday, October 19th. This represents a $1.18 annualized dividend and a yield of 1.4%. Graco's dividend payout ratio is presently 37.11%.

Analyst Ratings Changes

GGG has been the subject of several analyst reports. Royal Bank Of Canada decreased their price objective on shares of Graco from $96.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, October 14th. Weiss Ratings upgraded Graco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Robert W. Baird set a $94.00 target price on Graco in a report on Friday, July 24th. Wolfe Research lowered Graco from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $85.00 price target on shares of Graco in a research report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $94.75.

Graco Company Profile

Graco Inc is a global manufacturer of equipment used to move, measure, control, dispense and apply fluids and other materials. Its products are used in industrial, commercial and residential applications involving paints, coatings, sealants, adhesives, lubricants, chemicals and other fluids.

The company's product portfolio includes pumps, valves, meters, regulators, fluid-management systems, lubrication equipment, spray-applied coating and finishing systems, sealant and adhesive equipment, and contractor-oriented painting and texture application tools.

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