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

Graco (NYSE:GGG) announced its earnings results on Wednesday. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01, Briefing.com reports. Graco had a net margin of 23.16% and a return on equity of 22.40%. The firm had revenue of $553.20 million for the quarter, compared to the consensus estimate of $562.27 million. During the same quarter last year, the firm posted $0.75 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis.

Graco Price Performance

Graco stock opened at $84.43 on Friday. Graco has a one year low of $69.78 and a one year high of $94.77. The business has a 50 day simple moving average of $80.40 and a 200 day simple moving average of $85.41. The company has a market capitalization of $14.28 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 2.77 and a beta of 0.82.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Monday, July 22nd will be issued a $0.255 dividend. The ex-dividend date is Monday, July 22nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.21%. Graco’s payout ratio is presently 35.17%.

Analyst Ratings Changes

A number of equities analysts have recently commented on GGG shares. DA Davidson dropped their price objective on Graco from $82.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday. Royal Bank of Canada dropped their price target on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday. William Blair reissued a “market perform” rating on shares of Graco in a research report on Friday, April 26th. StockNews.com lowered shares of Graco from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Finally, Robert W. Baird cut their target price on shares of Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Friday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $86.80.

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.