Graco (NYSE:GGG) Posts Earnings Results, Misses Estimates By $0.05 EPS

Graco (NYSE:GGG) released its quarterly earnings data on Wednesday. The industrial products company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05), Briefing.com reports. The business had revenue of $519.21 million for the quarter, compared to the consensus estimate of $538.19 million. Graco had a return on equity of 22.40% and a net margin of 23.16%. Graco’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share.

Graco Stock Performance

GGG traded down $0.55 during midday trading on Thursday, hitting $82.35. The company had a trading volume of 1,022,893 shares, compared to its average volume of 730,942. The company has a market capitalization of $13.93 billion, a PE ratio of 28.40, a P/E/G ratio of 2.88 and a beta of 0.81. Graco has a twelve month low of $69.78 and a twelve month high of $94.77. The firm’s 50-day simple moving average is $83.90 and its 200-day simple moving average is $82.79.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, October 21st. Graco’s payout ratio is presently 35.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GGG shares. DA Davidson reissued a “neutral” rating and set a $79.00 price target on shares of Graco in a report on Friday, September 27th. Royal Bank of Canada cut their price target on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Robert W. Baird cut their price target on shares of Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.