W.W. Grainger (NYSE:GWW) Issues FY24 Earnings Guidance

W.W. Grainger (NYSE:GWW) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $38.65-39.35 for the period, compared to the consensus EPS estimate of $38.70. The company issued revenue guidance of $17.1-17.3 billion, compared to the consensus revenue estimate of $17.20 billion. W.W. Grainger also updated its FY 2024 guidance to 38.650-39.350 EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Bank of America assumed coverage on W.W. Grainger in a report on Monday, October 7th. They set an “underperform” rating and a $925.00 price objective for the company. Royal Bank of Canada boosted their price objective on W.W. Grainger from $1,018.00 to $1,125.00 and gave the company a “sector perform” rating in a report on Friday. Morgan Stanley assumed coverage on W.W. Grainger in a report on Friday, September 6th. They issued an “equal weight” rating and a $990.00 target price for the company. JPMorgan Chase & Co. upped 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. Finally, Wolfe Research upgraded W.W. Grainger to a “hold” rating in a report on Sunday, September 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $1,058.50.

W.W. Grainger Trading Down 0.4 %

Shares of NYSE:GWW opened at $1,105.07 on Friday. W.W. Grainger has a 1 year low of $747.00 and a 1 year high of $1,130.01. The firm has a market capitalization of $53.96 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 3.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.59 and a quick ratio of 1.40. The business’s 50 day moving average price is $1,035.68 and its 200-day moving average price is $971.79.

W.W. Grainger (NYSE:GWW) last announced its earnings results on Thursday, October 31st. The industrial products company reported $9.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.98 by ($0.11). W.W. Grainger had a net margin of 10.80% and a return on equity of 51.78%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter last year, the business earned $9.43 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that W.W. Grainger will post 38.69 earnings per share for the current fiscal year.

W.W. Grainger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 11th will be given a dividend of $2.05 per share. 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 22.23%.

Insider Activity

In other news, CEO Donald G. Macpherson sold 27,502 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1,000.82, for a total transaction of $27,524,551.64. Following the transaction, the chief executive officer now owns 111,559 shares in the company, valued at $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 is available at the SEC website. In other news, CEO Donald G. Macpherson sold 12,992 shares of the 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 owns 98,567 shares of the company’s stock, valued at $102,281,004.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders own 9.50% of the company’s stock.

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.