$0.28 Earnings Per Share Expected for Gorman-Rupp Company (The) (GRC) This Quarter

Equities analysts forecast that Gorman-Rupp Company (The) (NYSE:GRC) will announce earnings of $0.28 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Gorman-Rupp’s earnings. Gorman-Rupp reported earnings of $0.24 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.7%. The firm is expected to report its next quarterly earnings report on Friday, February 2nd.

On average, analysts expect that Gorman-Rupp will report full-year earnings of $1.10 per share for the current financial year. For the next fiscal year, analysts anticipate that the company will post earnings of $1.20 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Gorman-Rupp.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. The business had revenue of $93.98 million for the quarter, compared to analyst estimates of $95.91 million. Gorman-Rupp had a return on equity of 9.72% and a net margin of 6.25%. Gorman-Rupp’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th. TheStreet raised Gorman-Rupp from a “c+” rating to a “b-” rating in a research note on Monday, August 21st.

In related news, Director Christopher H. Lake sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $31.75, for a total transaction of $79,375.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Teachers Advisors LLC grew its holdings in shares of Gorman-Rupp by 2.5% in the first quarter. Teachers Advisors LLC now owns 40,114 shares of the industrial products company’s stock valued at $1,260,000 after acquiring an additional 977 shares in the last quarter. Vanguard Group Inc. lifted its stake in Gorman-Rupp by 6.9% in the first quarter. Vanguard Group Inc. now owns 1,561,859 shares of the industrial products company’s stock valued at $49,042,000 after purchasing an additional 100,245 shares during the last quarter. Geode Capital Management LLC lifted its stake in Gorman-Rupp by 3.3% in the first quarter. Geode Capital Management LLC now owns 132,688 shares of the industrial products company’s stock valued at $4,166,000 after purchasing an additional 4,229 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Gorman-Rupp by 13.4% in the first quarter. Renaissance Technologies LLC now owns 45,800 shares of the industrial products company’s stock valued at $1,438,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Gorman-Rupp by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 74,889 shares of the industrial products company’s stock valued at $2,352,000 after purchasing an additional 3,756 shares during the last quarter. 52.82% of the stock is owned by hedge funds and other institutional investors.

Shares of Gorman-Rupp (NYSE:GRC) traded down $0.34 on Friday, reaching $31.89. The company’s stock had a trading volume of 29,700 shares, compared to its average volume of 49,325. The firm has a market cap of $841.42, a P/E ratio of 28.03 and a beta of 1.30. Gorman-Rupp has a 52-week low of $23.55 and a 52-week high of $34.45.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.125 per share. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, November 14th. Gorman-Rupp’s dividend payout ratio is 55.56%.

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About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.

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