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

Graco (NYSE:GGG) announced its earnings results on Wednesday. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02), FiscalAI reports. The firm had revenue of $586.39 million for the quarter, compared to the consensus estimate of $590.17 million. Graco had a return on equity of 19.81% and a net margin of 22.40%. Graco’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 EPS.

Graco Stock Performance

Shares of NYSE GGG traded down $2.41 during mid-day trading on Friday, hitting $66.87. 218,260 shares of the stock traded hands, compared to its average volume of 1,432,661. Graco has a 52 week low of $67.34 and a 52 week high of $95.69. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.54 and a beta of 0.89. The stock has a fifty day moving average price of $78.52 and a 200-day moving average price of $78.41.

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 dividend yield of 1.8%. Graco’s payout ratio is currently 37.11%.

Analysts Set New Price Targets

GGG has been the topic of several analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of Graco in a report on Friday. DA Davidson reiterated a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, July 27th. Robert W. Baird set a $80.00 target price on shares of Graco in a research report on Friday. Weiss Ratings raised Graco from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Finally, Wolfe Research lowered Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $91.25.

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.