W.W. Grainger (NYSE:GWW) Announces Earnings Results

W.W. Grainger (NYSE:GWW) announced its quarterly earnings data on Thursday. The industrial products company reported $9.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.58 by $0.18, Briefing.com reports. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.35 billion. W.W. Grainger had a net margin of 10.86% and a return on equity of 53.25%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.28 EPS. W.W. Grainger updated its FY 2024 guidance to 38.000-39.500 EPS.

W.W. Grainger Stock Up 1.1 %

NYSE GWW traded up $10.43 during trading hours on Friday, reaching $952.79. 361,136 shares of the company’s stock traded hands, compared to its average volume of 270,770. W.W. Grainger has a 52-week low of $674.41 and a 52-week high of $1,034.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.30 and a quick ratio of 1.33. The firm has a 50-day simple moving average of $924.85 and a 200 day simple moving average of $945.30. The firm has a market cap of $46.75 billion, a PE ratio of 26.31, a PEG ratio of 1.85 and a beta of 1.17.

W.W. Grainger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Monday, August 12th will be given a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, August 12th. W.W. Grainger’s dividend payout ratio is presently 22.64%.

Analysts Set New Price Targets

Several research analysts recently commented on GWW shares. Robert W. Baird downgraded 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 note on Wednesday, May 29th. Baird R W lowered shares of W.W. Grainger from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. boosted their price target on W.W. Grainger from $1,000.00 to $1,015.00 and gave the company a “neutral” rating in a report on Friday. Erste Group Bank reiterated a “hold” rating on shares of W.W. Grainger in a report on Friday, June 14th. Finally, Royal Bank of Canada reduced their target price on W.W. Grainger from $978.00 to $972.00 and set a “sector perform” rating on the stock in a research note on Friday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, W.W. Grainger has an average rating of “Hold” and a consensus price target of $1,017.13.

Insiders Place Their Bets

In other news, SVP Matt Fortin sold 511 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $915.20, for a total value of $467,667.20. Following the sale, the senior vice president now directly 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 SEC, which is available at this hyperlink. 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.