W.W. Grainger (NYSE:GWW) Issues Earnings Results, Misses Expectations By $0.11 EPS

W.W. Grainger (NYSE:GWW) announced 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. W.W. Grainger had a return on equity of 51.78% and a net margin of 10.80%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the company posted $9.43 earnings per share. The business’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 Stock Performance

NYSE:GWW opened at $1,105.07 on Friday. The company’s 50-day moving average price is $1,035.68 and its 200-day moving average price is $971.79. The company has a current ratio of 2.59, a quick ratio of 1.40 and a debt-to-equity ratio of 0.59. The company has a market cap of $53.96 billion, a P/E ratio of 29.96, a P/E/G ratio of 3.09 and a beta of 1.15. W.W. Grainger has a twelve month low of $747.00 and a twelve month high of $1,130.01.

W.W. Grainger Announces Dividend

The firm also recently declared 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. This represents a $8.20 annualized dividend 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 currently 22.23%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America assumed coverage on shares of W.W. Grainger in a report on Monday, October 7th. They set an “underperform” rating and a $925.00 price target on the stock. Wolfe Research raised shares of W.W. Grainger to a “hold” rating in a report on Sunday, September 22nd. Northcoast Research started coverage on shares of W.W. Grainger in a research report on Tuesday, October 29th. They issued a “neutral” rating on the stock. Baird R W upgraded shares of W.W. Grainger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their target price on shares of W.W. Grainger from $1,018.00 to $1,125.00 and gave the company a “sector perform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $1,058.50.

Insiders Place Their Bets

In other W.W. Grainger news, CEO Donald G. Macpherson sold 27,502 shares of W.W. Grainger stock in a transaction dated 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 transaction, the chief executive officer now directly owns 111,559 shares of the company’s stock, valued at $111,650,478.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other W.W. Grainger news, CEO Donald G. Macpherson sold 12,992 shares of W.W. Grainger stock in a transaction dated 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 transaction, the chief executive officer now directly owns 98,567 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Donald G. Macpherson sold 27,502 shares of W.W. Grainger stock in a transaction dated 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 directly owns 111,559 shares in the company, valued at $111,650,478.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.50% of the stock is owned by insiders.

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.