W.W. Grainger (NYSE:GWW) Announces Quarterly Earnings Results

W.W. Grainger (NYSE:GWW) issued 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. W.W. Grainger had a return on equity of 53.25% and a net margin of 10.86%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the prior year, the company posted $9.43 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. 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 Price Performance

Shares of GWW traded down $4.16 during trading hours on Friday, reaching $1,105.07. 236,592 shares of the stock traded hands, compared to its average volume of 234,978. The company has a market cap of $53.96 billion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 3.07 and a beta of 1.16. The company has a current ratio of 2.30, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $1,033.22 and its two-hundred day moving average price is $970.74. W.W. Grainger has a 52-week low of $747.00 and a 52-week high of $1,130.01.

W.W. Grainger Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on W.W. Grainger from $1,000.00 to $1,015.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wolfe Research raised W.W. Grainger to a “hold” rating in a research report on Sunday, September 22nd. Robert W. Baird raised shares of W.W. Grainger from a “neutral” rating to an “outperform” rating and raised their price target for the company from $975.00 to $1,230.00 in a report on Wednesday, October 16th. Baird R W raised shares of W.W. Grainger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Finally, Loop Capital lifted their target price on shares of W.W. Grainger from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $1,058.50.

Insiders Place Their Bets

In other news, CEO Donald G. Macpherson sold 12,992 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 98,567 shares in the company, valued at $102,281,004.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other W.W. Grainger news, CEO Donald G. Macpherson sold 27,502 shares of W.W. Grainger stock in a transaction on 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 sale, the chief executive officer now directly owns 111,559 shares in the company, valued at approximately $111,650,478.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Donald G. Macpherson sold 12,992 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 98,567 shares of the company’s stock, valued at approximately $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.

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.