Gorman-Rupp Company (The) (GRC) Expected to Post Earnings of $0.28 Per Share
Wall Street analysts expect Gorman-Rupp Company (The) (NYSE:GRC) to post $0.28 earnings per share for the current quarter, according to Zacks. Zero analysts have made estimates for Gorman-Rupp’s earnings. Gorman-Rupp posted earnings of $0.24 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.7%. The firm is scheduled to issue its next earnings report on Friday, February 2nd.
According to Zacks, analysts expect that Gorman-Rupp will report full year earnings of $1.10 per share for the current fiscal year. For the next financial year, analysts expect that the firm will post earnings of $1.20 per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Gorman-Rupp.
Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, October 27th. The industrial products company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08. The business had revenue of $93.98 million for the quarter, compared to analyst estimates of $95.91 million. Gorman-Rupp had a net margin of 6.25% and a return on equity of 9.72%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS.
In other news, Director Christopher H. Lake sold 2,500 shares of Gorman-Rupp stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $31.75, for a total transaction of $79,375.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.40% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC increased its holdings in Gorman-Rupp by 2.5% in the 1st quarter. Teachers Advisors LLC now owns 40,114 shares of the industrial products company’s stock valued at $1,260,000 after purchasing an additional 977 shares during the last quarter. First Trust Advisors LP increased its holdings in Gorman-Rupp by 71.1% in the 2nd quarter. First Trust Advisors LP now owns 145,606 shares of the industrial products company’s stock valued at $3,709,000 after purchasing an additional 60,512 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Gorman-Rupp by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,407 shares of the industrial products company’s stock valued at $4,213,000 after purchasing an additional 10,753 shares during the last quarter. Citadel Advisors LLC increased its holdings in Gorman-Rupp by 109.8% in the 2nd quarter. Citadel Advisors LLC now owns 39,339 shares of the industrial products company’s stock valued at $1,002,000 after purchasing an additional 20,592 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Gorman-Rupp by 4.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 477,570 shares of the industrial products company’s stock valued at $12,163,000 after purchasing an additional 21,977 shares during the last quarter. Hedge funds and other institutional investors own 52.74% of the company’s stock.
Shares of Gorman-Rupp (GRC) opened at $32.36 on Friday. The company has a market cap of $844.82, a P/E ratio of 28.14 and a beta of 1.30. Gorman-Rupp has a 12-month low of $23.55 and a 12-month high of $34.45.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, November 14th. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.12. Gorman-Rupp’s payout ratio is presently 55.56%.
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The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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