What is Zacks Research's Estimate for Graco FY2024 Earnings?

Graco Inc. (NYSE:GGG - Free Report) - Investment analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for shares of Graco in a report released on Wednesday, November 13th. Zacks Research analyst R. Department now anticipates that the industrial products company will post earnings per share of $2.91 for the year, down from their previous estimate of $2.96. The consensus estimate for Graco's current full-year earnings is $2.92 per share. Zacks Research also issued estimates for Graco's Q4 2024 earnings at $0.78 EPS, Q1 2025 earnings at $0.67 EPS, Q2 2025 earnings at $0.82 EPS, Q1 2026 earnings at $0.70 EPS, Q2 2026 earnings at $0.90 EPS and FY2026 earnings at $3.30 EPS.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05). The company had revenue of $519.21 million for the quarter, compared to analyst estimates of $538.19 million. Graco had a return on equity of 21.24% and a net margin of 22.87%. Graco's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 earnings per share.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird dropped their target price on Graco from $88.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. DA Davidson reiterated a "neutral" rating and issued a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Finally, Royal Bank of Canada lowered their price objective on Graco from $96.00 to $93.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $89.25.

Graco Stock Up 0.5 %

Shares of NYSE:GGG traded up $0.45 during trading on Friday, reaching $89.62. 2,337,975 shares of the company's stock traded hands, compared to its average volume of 742,854. Graco has a fifty-two week low of $77.49 and a fifty-two week high of $94.77. The firm has a market cap of $15.13 billion, a PE ratio of 31.67, a P/E/G ratio of 3.03 and a beta of 0.82. The company has a 50-day simple moving average of $85.13 and a 200-day simple moving average of $82.45.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, October 21st. Graco's payout ratio is presently 36.04%.

Insider Buying and Selling at Graco

In other news, insider David J. Thompson sold 3,216 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total transaction of $284,004.96. Following the sale, the insider now owns 27,246 shares of the company's stock, valued at approximately $2,406,094.26. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.63% of the stock is owned by corporate insiders.

Institutional Trading of Graco

A number of large investors have recently modified their holdings of GGG. V Square Quantitative Management LLC increased its holdings in Graco by 5.5% in the second quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company's stock valued at $183,000 after buying an additional 120 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Graco by 3.1% during the third quarter. Ballentine Partners LLC now owns 4,222 shares of the industrial products company's stock worth $369,000 after purchasing an additional 128 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Graco by 7.1% during the second quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company's stock worth $161,000 after buying an additional 134 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Graco by 8.8% during the second quarter. iA Global Asset Management Inc. now owns 1,687 shares of the industrial products company's stock worth $134,000 after buying an additional 136 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Graco by 6.3% during the second quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company's stock worth $190,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 93.88% of the company's stock.

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.