In its upcoming report, Graco Inc. (GGG) is predicted by Wall Street analysts to post quarterly earnings of $0.68 per share, reflecting an increase of 4.6% compared to the same period last year. Revenues are forecasted to be $525.42 million, representing a year-over-year increase of 6.8%.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Graco metrics that are commonly monitored and projected by Wall Street analysts.
According to the collective judgment of analysts, 'Net Sales- Contractor' should come in at $260.03 million. The estimate points to a change of +13% from the year-ago quarter.
The consensus estimate for 'Net Sales- Industrial' stands at $226.55 million. The estimate indicates a change of +59.6% from the prior-year quarter.
Analysts predict that the 'Operating earnings /(loss)- Contractor' will reach $70.82 million. Compared to the current estimate, the company reported $66.14 million in the same quarter of the previous year.
The average prediction of analysts places 'Operating earnings /(loss)- Industrial' at $74.78 million. Compared to the present estimate, the company reported $44.80 million in the same quarter last year.
View all Key Company Metrics for Graco here>>>
Over the past month, shares of Graco have returned -4.4% versus the Zacks S&P 500 composite's -5.6% change. Currently, GGG carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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