Gorman-Rupp (GRC) Announces Earnings Results
Gorman-Rupp (NYSE:GRC) posted its earnings results on Friday. The industrial products company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31, Morningstar.com reports. The company had revenue of $94.94 million during the quarter, compared to analyst estimates of $95.39 million. Gorman-Rupp had a return on equity of 9.72% and a net margin of 6.25%. Gorman-Rupp’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share.
Gorman-Rupp (GRC) traded up $1.34 during trading on Friday, reaching $28.23. The company’s stock had a trading volume of 68,677 shares, compared to its average volume of 39,716. The stock has a market capitalization of $737.00, a price-to-earnings ratio of 27.68 and a beta of 1.18. Gorman-Rupp has a one year low of $23.55 and a one year high of $33.50.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.77%. Gorman-Rupp’s dividend payout ratio is currently 49.02%.
Separately, Zacks Investment Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $36.00 target price for the company in a report on Tuesday, October 31st.
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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