Graco (NYSE:GGG) Issues Earnings Results

by · The Markets Daily

Graco (NYSE:GGG – Get Free Report) posted its earnings results on Wednesday. The industrial products company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05), Briefing.com reports. The business had revenue of $519.21 million during the quarter, compared to analysts’ expectations of $538.19 million. Graco had a return on equity of 22.40% and a net margin of 23.16%. Graco’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS.

Graco Trading Down 0.7 %

Shares of GGG traded down $0.55 during trading hours on Thursday, reaching $82.35. 1,022,893 shares of the company’s stock traded hands, compared to its average volume of 730,942. Graco has a 12 month low of $69.78 and a 12 month high of $94.77. The stock has a market cap of $13.93 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. The firm’s 50 day simple moving average is $83.90 and its 200-day simple moving average is $82.79.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be paid a $0.255 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a yield of 1.24%. Graco’s dividend payout ratio is currently 35.17%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. DA Davidson reissued a “neutral” rating and set a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Finally, Robert W. Baird decreased their price target on Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.25.

Check Out Our Latest Research Report on Graco

Graco Company Profile

(Get Free Report)

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.

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