Graco (GGG) Set to Announce Quarterly Earnings on Wednesday

Graco (NYSE:GGG) will be announcing its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. Graco had a return on equity of 22.40% and a net margin of 23.16%. The business had revenue of $553.20 million for the quarter, compared to the consensus estimate of $562.27 million. During the same quarter in the prior year, the business earned $0.75 earnings per share. Graco’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts expect Graco to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Graco Stock Performance

Shares of GGG opened at $86.40 on Wednesday. The firm has a market cap of $14.61 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. Graco has a fifty-two week low of $69.78 and a fifty-two week high of $94.77. The business has a 50-day moving average of $83.27 and a 200 day moving average of $83.02.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be paid a $0.255 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a yield of 1.18%. Graco’s dividend payout ratio is 35.17%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GGG. Royal Bank of Canada dropped their price objective on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Robert W. Baird lowered their target price on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $79.00 price target on shares of Graco in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.25.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.