Gorman-Rupp (GRC) Releases Quarterly Earnings Results
Gorman-Rupp (NYSE:GRC) issued its quarterly earnings data on Friday. The company reported $0.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.01, AnalystRatings.Net reports. The company had revenue of $101.20 million for the quarter, compared to the consensus estimate of $100.03 million. During the same quarter last year, the company posted $0.37 earnings per share. Gorman-Rupp’s revenue was up 10.5% compared to the same quarter last year.
Shares of Gorman-Rupp (NYSE:GRC) opened at 39.49 on Friday. Gorman-Rupp has a 1-year low of $25.51 and a 1-year high of $39.67. The stock has a 50-day moving average of $35.99 and a 200-day moving average of $31.32. The company has a market cap of $829.4 million and a price-to-earnings ratio of 32.66.
A number of analysts have recently weighed in on GRC shares. Analysts at Zacks downgraded shares of Gorman-Rupp from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, October 7th. They now have a $43.80 price target on the stock. On the ratings front, analysts at Sidoti downgraded shares of Gorman-Rupp from a “buy” rating to a “neutral” rating in a research note to investors on Friday, September 20th.
The Gorman-Rupp Company (NYSE:GRC) manufactures and globally sells pumps and related equipment (pump and motor controls) for use in water, wastewater, construction, industrial, petroleum, original equipment, agriculture, fire protection, heating, ventilating and air conditioning (HVAC), military and other liquid-handling applications.
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