What is Zacks Research’s Forecast for Graco FY2024 Earnings?

Graco Inc. (NYSE:GGG) – Equities research analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Graco in a report issued on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the industrial products company will post earnings of $2.91 per share for the year, down from their prior forecast 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.

Several other analysts have also recently commented on the company. DA Davidson reiterated a “neutral” rating and set a $79.00 price target on shares of Graco in a research report on Friday, September 27th. 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 research note on Friday, October 25th. Finally, Robert W. Baird lowered 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, October 25th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.25.

Graco Stock Performance

Shares of GGG opened at $89.18 on Friday. Graco has a one year low of $77.49 and a one year high of $94.77. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 3.03 and a beta of 0.82. The stock has a 50 day moving average price of $84.94 and a 200 day moving average price of $82.40.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Graco had a net margin of 22.87% and a return on equity of 21.24%. The business had revenue of $519.21 million during the quarter, compared to analysts’ expectations of $538.19 million. During the same quarter last year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year.

Hedge Funds Weigh In On Graco

Hedge funds have recently bought and sold shares of the company. Gradient Investments LLC acquired a new position in Graco during the 2nd quarter worth about $27,000. Brooklyn Investment Group acquired a new position in Graco during the 3rd quarter worth about $30,000. New Covenant Trust Company N.A. acquired a new position in Graco during the 1st quarter worth about $43,000. UMB Bank n.a. lifted its stake in Graco by 187.8% during the 3rd quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 323 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Graco by 220.9% during the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 475 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insider Activity

In related news, insider David J. Thompson sold 3,216 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $88.31, for a total transaction of $284,004.96. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.63% of the company’s stock.

Graco Dividend Announcement

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

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.