Graco (NYSE:GGG) Issues Quarterly Earnings Results

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

Graco Price Performance

Shares of NYSE:GGG traded up $0.63 on Friday, hitting $82.97. The company’s stock had a trading volume of 57,803 shares, compared to its average volume of 727,690. Graco has a 1 year low of $70.80 and a 1 year high of $94.77. The company has a market capitalization of $14.03 billion, a PE ratio of 28.40, a PEG ratio of 2.88 and a beta of 0.81. The company has a 50-day simple moving average of $83.90 and a 200 day simple moving average of $82.79.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders 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 1.23%. Graco’s dividend payout ratio is currently 35.17%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GGG. DA Davidson reiterated a “neutral” rating and issued a $79.00 price objective on shares of Graco in a research note on Friday, September 27th. Royal Bank of Canada reduced their price target on Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Robert W. Baird decreased their price objective on Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $90.00.

About Graco

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.