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

W.W. Grainger (NYSE:GWW) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 38.000-39.500 for the period, compared to the consensus estimate of 39.150. The company issued revenue guidance of $17.0 billion-$17.3 billion, compared to the consensus revenue estimate of $17.4 billion.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Robert W. Baird cut shares of W.W. Grainger from an outperform rating to a neutral rating and decreased their target price for the stock from $1,000.00 to $975.00 in a research report on Wednesday, May 29th. Erste Group Bank reiterated a hold rating on shares of W.W. Grainger in a research report on Friday, June 14th. StockNews.com cut shares of W.W. Grainger from a buy rating to a hold rating in a research report on Wednesday, May 29th. Baird R W cut shares of W.W. Grainger from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. Finally, Loop Capital decreased their price objective on shares of 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $997.75.

W.W. Grainger Trading Down 4.7 %

Shares of GWW traded down $45.79 during trading hours on Thursday, reaching $931.02. 210,451 shares of the company traded hands, compared to its average volume of 243,861. The company’s fifty day moving average price is $925.37 and its two-hundred day moving average price is $943.82. The company has a market capitalization of $45.69 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. The company has a quick ratio of 1.33, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. W.W. Grainger has a 12 month low of $674.41 and a 12 month high of $1,034.18.

W.W. Grainger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Monday, August 12th will be paid a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.88%. W.W. Grainger’s payout ratio is 22.64%.

Insider Buying and Selling

In related news, SVP Matt Fortin sold 511 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $915.20, for a total transaction of $467,667.20. Following the sale, the senior vice president now owns 1,848 shares of the company’s stock, valued at $1,691,289.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.50% of the stock is currently owned by insiders.

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.