Graco Inc. (NYSE:GGG) to Post Q3 2024 Earnings of $0.78 Per Share, William Blair Forecasts

Graco Inc. (NYSE:GGG) – Stock analysts at William Blair dropped their Q3 2024 earnings per share estimates for Graco in a research report issued to clients and investors on Friday, July 26th. William Blair analyst R. Sparenblek now expects that the industrial products company will post earnings per share of $0.78 for the quarter, down from their prior forecast of $0.82. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Graco’s current full-year earnings is $2.99 per share. William Blair also issued estimates for Graco’s Q4 2024 earnings at $0.83 EPS, FY2024 earnings at $3.03 EPS and FY2025 earnings at $3.20 EPS.

Other equities analysts have also issued reports about the company. StockNews.com lowered Graco from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Royal Bank of Canada decreased their target price on Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Robert W. Baird decreased their target price on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, DA Davidson decreased their price objective on Graco from $82.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Graco currently has an average rating of “Hold” and an average price target of $86.80.

Graco Trading Up 1.6 %

Graco stock opened at $84.78 on Monday. The firm has a market capitalization of $14.32 billion, a P/E ratio of 29.23, a PEG ratio of 2.82 and a beta of 0.82. Graco has a 1 year low of $69.78 and a 1 year high of $94.77. The business has a 50-day moving average of $80.43 and a 200-day moving average of $85.44.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. The company had revenue of $553.20 million during the quarter, compared to analyst estimates of $562.27 million. Graco had a return on equity of 22.40% and a net margin of 23.16%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Monday, July 22nd will be given a $0.255 dividend. The ex-dividend date is Monday, July 22nd. This represents a $1.02 annualized dividend and a dividend yield of 1.20%. Graco’s dividend payout ratio is presently 35.17%.

Insider Buying and Selling at Graco

In related news, Director J Kevin Gilligan 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.63% of the company’s stock.

Institutional Investors Weigh In On Graco

Institutional investors have recently bought and sold shares of the company. Tobam lifted its stake in Graco by 2,330.8% in the 4th quarter. Tobam now owns 316 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 303 shares in the last quarter. Gradient Investments LLC bought a new stake in shares of Graco during the 2nd quarter worth approximately $27,000. Rise Advisors LLC bought a new stake in shares of Graco during the 1st quarter worth approximately $38,000. New Covenant Trust Company N.A. bought a new stake in shares of Graco during the 1st quarter worth approximately $43,000. Finally, Northwest Financial Advisors bought a new stake in shares of Graco during the 4th quarter worth approximately $50,000. Institutional investors own 93.88% of the company’s stock.

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.