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

W.W. Grainger (NYSE:GWW) released its earnings results on Thursday. The industrial products company reported $9.76 earnings per share for the quarter, beating analysts’ consensus estimates of $9.58 by $0.18, Briefing.com reports. W.W. Grainger had a net margin of 10.86% and a return on equity of 53.25%. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same period in the previous year, the company earned $9.28 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. W.W. Grainger updated its FY 2024 guidance to 38.000-39.500 EPS.

W.W. Grainger Price Performance

W.W. Grainger stock traded up $10.43 during mid-day trading on Friday, hitting $952.79. 361,136 shares of the company traded hands, compared to its average volume of 270,770. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 2.30. W.W. Grainger has a one year low of $674.41 and a one year high of $1,034.18. The stock has a market cap of $46.75 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. The stock has a fifty day moving average price of $924.85 and a 200-day moving average price of $944.58.

W.W. Grainger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Monday, August 12th will be given a $2.05 dividend. This represents a $8.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, August 12th. W.W. Grainger’s dividend payout ratio (DPR) is 22.64%.

Insider Transactions at W.W. Grainger

In other news, SVP Matt Fortin sold 511 shares of W.W. Grainger stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $915.20, for a total transaction of $467,667.20. Following the completion of the sale, the senior vice president now directly owns 1,848 shares of the company’s stock, valued at approximately $1,691,289.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GWW shares. StockNews.com downgraded W.W. Grainger from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Baird R W lowered W.W. Grainger from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Royal Bank of Canada decreased their price objective on W.W. Grainger from $978.00 to $972.00 and set a “sector perform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lifted their target price on W.W. Grainger from $1,000.00 to $1,015.00 and gave the company a “neutral” rating in a report on Friday. Finally, Loop Capital decreased their price target on W.W. Grainger from $1,000.00 to $975.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1,017.13.

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.