W.W. Grainger (NYSE:GWW) Issues Earnings Results

W.W. Grainger (NYSE:GWW) posted its quarterly earnings results on Thursday. The industrial products company reported $9.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.98 by ($0.11), Briefing.com reports. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.40 billion. W.W. Grainger had a net margin of 10.86% and a return on equity of 53.25%. W.W. Grainger’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.43 earnings per share. 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 Trading Down 0.4 %

Shares of NYSE:GWW traded down $4.16 during midday trading on Friday, reaching $1,105.07. The company’s stock had a trading volume of 248,255 shares, compared to its average volume of 234,978. The firm has a market cap of $53.96 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 3.07 and a beta of 1.16. The business has a 50 day moving average price of $1,033.22 and a 200 day moving average price of $970.74. W.W. Grainger has a 1 year low of $747.00 and a 1 year high of $1,130.01. The company has a quick ratio of 1.40, a current ratio of 2.30 and a debt-to-equity ratio of 0.50.

W.W. Grainger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 11th will be paid a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, November 8th. W.W. Grainger’s dividend payout ratio is presently 22.50%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on GWW shares. Bank of America assumed coverage on W.W. Grainger in a research report on Monday, October 7th. They set an “underperform” rating and a $925.00 target price on the stock. Oppenheimer cut shares of W.W. Grainger from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. Baird R W upgraded shares of W.W. Grainger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Loop Capital upped their price target on shares of W.W. Grainger from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Wolfe Research raised shares of W.W. Grainger to a “hold” rating in a research note on Sunday, September 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1,058.50.

W.W. Grainger Company Profile

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.