Equities research analysts expect The Gorman-Rupp Company (NYSE:GRC) to post earnings per share of $0.28 for the current quarter, according to Zacks. Zero analysts have made estimates for The Gorman-Rupp’s earnings. The Gorman-Rupp reported earnings per share of $0.24 in the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The company is expected to issue its next quarterly earnings results on Friday, February 2nd.
On average, analysts expect that The Gorman-Rupp will report full year earnings of $1.10 per share for the current fiscal year. For the next financial year, analysts anticipate that the business will report earnings of $1.20 per share. Zacks’ EPS averages are an average based on a survey of research analysts that cover The Gorman-Rupp.
The Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.25 by $0.08. The Gorman-Rupp had a net margin of 6.07% and a return on equity of 7.22%. The firm had revenue of $93.98 million during the quarter, compared to the consensus estimate of $95.91 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The Gorman-Rupp’s revenue for the quarter was up 2.9% on a year-over-year basis.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of The Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Tuesday, August 1st. TheStreet upgraded shares of The Gorman-Rupp from a “c+” rating to a “b-” rating in a research report on Monday, August 21st.
In other The Gorman-Rupp news, Director Christopher H. Lake sold 2,200 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $27.23, for a total transaction of $59,906.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth R. Reynolds acquired 2,500 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were purchased at an average price of $28.17 per share, with a total value of $70,425.00. The disclosure for this purchase can be found here.
A number of institutional investors have recently made changes to their positions in GRC. Goldman Sachs Group Inc. grew its stake in shares of The Gorman-Rupp by 114.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 455,593 shares of the industrial products company’s stock worth $14,306,000 after purchasing an additional 242,926 shares during the period. Vanguard Group Inc. grew its stake in shares of The Gorman-Rupp by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 1,561,859 shares of the industrial products company’s stock worth $49,042,000 after purchasing an additional 100,245 shares during the period. First Trust Advisors LP grew its stake in shares of The Gorman-Rupp by 71.1% during the 2nd quarter. First Trust Advisors LP now owns 145,606 shares of the industrial products company’s stock worth $3,709,000 after purchasing an additional 60,512 shares during the period. KBC Group NV acquired a new position in shares of The Gorman-Rupp during the 3rd quarter worth $1,232,000. Finally, Bank of America Corp DE grew its stake in shares of The Gorman-Rupp by 548.1% during the 1st quarter. Bank of America Corp DE now owns 42,134 shares of the industrial products company’s stock worth $1,323,000 after purchasing an additional 35,633 shares during the period.
Shares of The Gorman-Rupp (NYSE:GRC) traded up $0.28 during trading on Tuesday, reaching $30.48. 100,000 shares of the company’s stock were exchanged, compared to its average volume of 50,157. The Gorman-Rupp has a 52 week low of $23.55 and a 52 week high of $34.45.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.64%. This is an increase from The Gorman-Rupp’s previous quarterly dividend of $0.12. The Gorman-Rupp’s dividend payout ratio is presently 50.55%.
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About The 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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