W.W. Grainger (NYSE:GWW) Issues 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.

W.W. Grainger Stock Down 0.4 %

NYSE:GWW traded down $4.16 on Friday, reaching $1,105.07. The stock had a trading volume of 248,255 shares, compared to its average volume of 220,030. The company has a 50-day moving average of $1,035.68 and a 200 day moving average of $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 stock has a market cap of $53.96 billion, a P/E ratio of 29.96, a price-to-earnings-growth ratio of 3.09 and a beta of 1.15. W.W. Grainger has a 12-month low of $747.00 and a 12-month high of $1,130.01.

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

W.W. Grainger Dividend Announcement

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 given 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 payout ratio is currently 22.23%.

Analysts Set New Price Targets

GWW has been the topic of several recent research reports. Oppenheimer downgraded W.W. Grainger from an “outperform” rating to a “market perform” rating in a report on Thursday, October 17th. Wolfe Research raised shares of W.W. Grainger to a “hold” rating in a report on Sunday, September 22nd. Northcoast Research initiated coverage on shares of W.W. Grainger in a report on Tuesday, October 29th. They issued a “neutral” rating on the stock. Morgan Stanley assumed coverage on shares of W.W. Grainger in a research report on Friday, September 6th. They issued an “equal weight” rating and a $990.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of W.W. Grainger from $1,000.00 to $1,015.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $1,058.50.

Insider Activity

In other news, 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 transaction of $13,481,538.56. Following the completion of the transaction, the chief executive officer now owns 98,567 shares in the company, valued at approximately $102,281,004.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, 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 transaction of $13,481,538.56. Following the completion of the sale, the chief executive officer now owns 98,567 shares in the company, valued at approximately $102,281,004.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Donald G. Macpherson sold 27,502 shares of W.W. Grainger 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 completion of the transaction, the chief executive officer now owns 111,559 shares in the company, valued at $111,650,478.38. The trade was a 0.00 % decrease in their ownership of the stock. 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.