W.W. Grainger (NYSE:GWW) Updates FY 2024 Earnings Guidance

W.W. Grainger (NYSE:GWW) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 38.650-39.350 for the period, compared to the consensus earnings per share estimate of 38.610. The company issued revenue guidance of $17.1 billion-$17.3 billion, compared to the consensus revenue estimate of $17.2 billion. W.W. Grainger also updated its FY24 guidance to $38.65-39.35 EPS.

Analyst Ratings Changes

Several brokerages have commented on GWW. Royal Bank of Canada increased their price target 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. Robert W. Baird upgraded W.W. Grainger from a “neutral” rating to an “outperform” rating and increased their price target for the company from $975.00 to $1,230.00 in a report on Wednesday, October 16th. Loop Capital increased their price target on W.W. Grainger from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Monday, October 21st. Baird R W upgraded W.W. Grainger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Finally, Wolfe Research upgraded W.W. Grainger to a “hold” rating in a report on Sunday, September 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, W.W. Grainger has an average rating of “Hold” and a consensus price target of $1,058.50.

W.W. Grainger Price Performance

Shares of NYSE GWW traded down $4.16 during midday trading on Friday, reaching $1,105.07. 248,255 shares of the company traded hands, compared to its average volume of 220,030. The firm has a market cap of $53.96 billion, a PE ratio of 29.96, a PEG ratio of 3.09 and a beta of 1.15. The stock’s 50-day simple moving average is $1,035.68 and its 200-day simple moving average is $971.79. W.W. Grainger has a 12 month low of $747.00 and a 12 month high of $1,130.01. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.40 and a current ratio of 2.59.

W.W. Grainger (NYSE:GWW) last released its quarterly 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 during the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the prior year, the firm earned $9.43 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that W.W. Grainger will post 38.69 earnings per share for the current fiscal year.

W.W. Grainger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 11th will be given a $2.05 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $8.20 dividend on an annualized basis and a yield of 0.74%. W.W. Grainger’s payout ratio is 22.23%.

Insider Transactions at W.W. Grainger

In other W.W. Grainger news, 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 in the company, valued at approximately $102,281,004.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other W.W. Grainger news, CEO Donald G. Macpherson sold 27,502 shares of the company’s stock in a transaction on Monday, September 16th. The stock was 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 $111,650,478.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Donald G. Macpherson sold 12,992 shares of the stock in a transaction 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 directly 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 disclosure for this sale can be found here. Corporate 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.