W.W. Grainger (NYSE:GWW) Issues Earnings Results, Misses Expectations By $0.11 EPS

W.W. Grainger (NYSE:GWW) announced its earnings results on Thursday. The industrial products company reported $9.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.98 by ($0.11), Briefing.com reports. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.40 billion. W.W. Grainger had a net margin of 10.86% and a return on equity of 53.25%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $9.43 EPS. W.W. Grainger updated its FY24 guidance to $38.65-39.35 EPS and its FY 2024 guidance to 38.650-39.350 EPS.

W.W. Grainger Stock Performance

NYSE:GWW traded down $4.16 during trading hours on Friday, reaching $1,105.07. The company had a trading volume of 236,592 shares, compared to its average volume of 234,978. The firm has a market cap of $53.96 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 3.07 and a beta of 1.16. W.W. Grainger has a 1-year low of $747.00 and a 1-year high of $1,130.01. The business’s 50 day moving average price is $1,033.22 and its 200-day moving average price is $970.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.30 and a quick ratio of 1.40.

W.W. Grainger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 11th will be issued a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Friday, November 8th. W.W. Grainger’s dividend payout ratio (DPR) is 22.50%.

Analyst Ratings Changes

GWW has been the topic of a number of research analyst reports. Robert W. Baird upgraded shares of W.W. Grainger from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $975.00 to $1,230.00 in a report on Wednesday, October 16th. Morgan Stanley started coverage on shares of W.W. Grainger in a research note on Friday, September 6th. They set an “equal weight” rating and a $990.00 price target for the company. Northcoast Research initiated coverage on W.W. Grainger in a research note on Tuesday. They issued a “neutral” rating on the stock. Loop Capital lifted their target price on W.W. Grainger from $900.00 to $1,100.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, Baird R W raised W.W. Grainger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1,058.50.

Insider Activity

In related news, CEO Donald G. Macpherson sold 12,992 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $1,037.68, for a total transaction of $13,481,538.56. Following the sale, the chief executive officer now owns 98,567 shares in the company, valued at approximately $102,281,004.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Donald G. Macpherson sold 27,502 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $1,000.82, for a total value of $27,524,551.64. Following the transaction, the chief executive officer now directly owns 111,559 shares of the company’s stock, valued at approximately $111,650,478.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Donald G. Macpherson sold 12,992 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $1,037.68, for a total value of $13,481,538.56. Following the sale, the chief executive officer now owns 98,567 shares of the company’s stock, valued at $102,281,004.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.50% of the company’s stock.

About W.W. Grainger

W.W. Grainger, Inc, together with its subsidiaries, distributes maintenance, repair, and operating products and services primarily in North America, Japan, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. The company provides safety, security, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance, and metalworking and hand tools.