Equities research analysts expect Graco Inc. (NYSE:GGG) to announce sales of $369.34 million for the current quarter, Zacks reports. Eight analysts have provided estimates for Graco’s earnings, with the lowest sales estimate coming in at $354.48 million and the highest estimate coming in at $381.14 million. Graco reported sales of $340.59 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.4%. The firm is scheduled to announce its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Graco will report full year sales of $369.34 million for the current fiscal year, with estimates ranging from $1.55 billion to $1.64 billion. For the next financial year, analysts anticipate that the business will report sales of $1.67 billion per share, with estimates ranging from $1.62 billion to $1.73 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Graco.
Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). Graco had a net margin of 17.12% and a return on equity of 40.08%. The firm had revenue of $374.90 million during the quarter, compared to analyst estimates of $369.53 million. During the same period in the prior year, the company earned $1.00 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year.
In other Graco news, VP Mark D. Eberlein sold 5,902 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $130.26, for a total transaction of $768,794.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Karen Park Gallivan sold 27,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $48.34, for a total value of $1,305,180.00. Following the transaction, the vice president now owns 72,305 shares in the company, valued at $3,495,223.70. The disclosure for this sale can be found here. Insiders have sold a total of 144,652 shares of company stock worth $14,419,502 over the last 90 days. Company insiders own 5.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of GGG. FMR LLC bought a new position in shares of Graco during the 2nd quarter worth approximately $16,392,000. Suntrust Banks Inc. lifted its holdings in shares of Graco by 37.4% in the 2nd quarter. Suntrust Banks Inc. now owns 3,503 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 953 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Graco by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 374,426 shares of the industrial products company’s stock worth $40,917,000 after purchasing an additional 3,629 shares in the last quarter. Balyasny Asset Management LLC bought a new position in shares of Graco in the 2nd quarter worth $274,000. Finally, AHL Partners LLP lifted its holdings in shares of Graco by 12.1% in the 2nd quarter. AHL Partners LLP now owns 23,648 shares of the industrial products company’s stock worth $2,584,000 after purchasing an additional 2,558 shares in the last quarter. Hedge funds and other institutional investors own 32.29% of the company’s stock.
Shares of Graco (NYSE:GGG) traded down $0.58 during mid-day trading on Thursday, reaching $42.80. The company had a trading volume of 114,441 shares, compared to its average volume of 830,746. Graco has a 1-year low of $29.70 and a 1-year high of $49.69. The company has a market capitalization of $7,338.44, a PE ratio of 29.85, a PEG ratio of 2.33 and a beta of 1.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.67.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Monday, January 22nd were issued a dividend of $0.3975 per share. This represents a $1.59 dividend on an annualized basis and a dividend yield of 3.71%. This is a boost from Graco’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, January 19th. Graco’s dividend payout ratio is presently 36.47%.
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Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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