Q2 2024 EPS Estimates for The Gorman-Rupp Company Decreased by Sidoti Csr (NYSE:GRC)

The Gorman-Rupp Company (NYSE:GRC) – Investment analysts at Sidoti Csr cut their Q2 2024 earnings per share estimates for Gorman-Rupp in a research report issued on Friday, April 26th. Sidoti Csr analyst J. Franzreb now expects that the industrial products company will post earnings of $0.42 per share for the quarter, down from their previous estimate of $0.46. The consensus estimate for Gorman-Rupp’s current full-year earnings is $1.55 per share. Sidoti Csr also issued estimates for Gorman-Rupp’s Q3 2024 earnings at $0.42 EPS, Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.55 EPS, Q1 2025 earnings at $0.36 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.53 EPS and Q4 2025 earnings at $0.47 EPS.

Gorman-Rupp (NYSE:GRC) last issued its earnings results on Thursday, April 25th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). The business had revenue of $159.27 million for the quarter, compared to analyst estimates of $168.49 million. Gorman-Rupp had a return on equity of 10.60% and a net margin of 5.52%.

Gorman-Rupp Stock Performance

Gorman-Rupp stock opened at $33.02 on Monday. The business has a 50 day moving average of $37.20 and a 200-day moving average of $34.51. Gorman-Rupp has a 1 year low of $23.62 and a 1 year high of $40.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.35 and a quick ratio of 1.31. The company has a market capitalization of $865.78 million, a P/E ratio of 23.86, a P/E/G ratio of 1.66 and a beta of 0.92.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Tuesday, May 14th. Gorman-Rupp’s dividend payout ratio is currently 52.17%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Gorman-Rupp by 9.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 544,399 shares of the industrial products company’s stock valued at $17,911,000 after acquiring an additional 46,396 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Gorman-Rupp by 380.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,854 shares of the industrial products company’s stock valued at $1,558,000 after acquiring an additional 34,728 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Gorman-Rupp by 0.9% in the third quarter. Vanguard Group Inc. now owns 2,256,217 shares of the industrial products company’s stock valued at $74,230,000 after acquiring an additional 19,797 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in Gorman-Rupp in the fourth quarter valued at approximately $640,000. Finally, ClariVest Asset Management LLC bought a new stake in Gorman-Rupp in the third quarter valued at approximately $589,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company's products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.