$0.28 Earnings Per Share Expected for Gorman-Rupp Co (GRC) This Quarter

Wall Street brokerages predict that Gorman-Rupp Co (NYSE:GRC) will report earnings per share (EPS) of $0.28 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided 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 company is scheduled to report its next earnings report on Friday, February 2nd.

On average, 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 anticipate that the business will post earnings of $1.20 per share. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Gorman-Rupp.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. The firm had revenue of $93.98 million during 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 for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 EPS.

Separately, Zacks Investment Research lowered shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 27th.

Gorman-Rupp (NYSE GRC) opened at $30.82 on Thursday. The company has a market cap of $803.04, a price-to-earnings ratio of 26.75 and a beta of 1.30. Gorman-Rupp has a 1 year low of $23.55 and a 1 year high of $34.45.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th were issued a dividend of $0.125 per share. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, November 14th. Gorman-Rupp’s payout ratio is currently 55.56%.

In other news, Director Christopher H. Lake sold 2,500 shares of Gorman-Rupp stock in a transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP lifted its holdings in shares of Gorman-Rupp by 133.6% during the 3rd quarter. GSA Capital Partners LLP now owns 34,275 shares of the industrial products company’s stock worth $1,116,000 after acquiring an additional 19,600 shares during the last quarter. Fieldpoint Private Securities LLC bought a new stake in Gorman-Rupp in the third quarter worth $107,000. Janney Montgomery Scott LLC lifted its stake in Gorman-Rupp by 34.9% in the third quarter. Janney Montgomery Scott LLC now owns 17,799 shares of the industrial products company’s stock worth $580,000 after purchasing an additional 4,605 shares during the last quarter. KBC Group NV bought a new stake in Gorman-Rupp in the third quarter worth $1,232,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in Gorman-Rupp by 5.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 79,404 shares of the industrial products company’s stock worth $2,587,000 after purchasing an additional 3,969 shares during the last quarter. 52.83% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “$0.28 Earnings Per Share Expected for Gorman-Rupp Co (GRC) This Quarter” was reported by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was illegally stolen and reposted in violation of international copyright and trademark law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/12/21/0-28-earnings-per-share-expected-for-gorman-rupp-co-grc-this-quarter.html.

Gorman-Rupp Company Profile

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.

Get a free copy of the Zacks research report on Gorman-Rupp (GRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Gorman-Rupp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gorman-Rupp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply