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

W.W. Grainger (NYSE:GWW) released 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. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.40 billion. W.W. Grainger had a net margin of 10.80% and a return on equity of 51.78%. W.W. Grainger’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $9.43 earnings per share. 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 Down 0.4 %

GWW stock opened at $1,105.07 on Friday. The company has a fifty day moving average price of $1,035.68 and a 200 day moving average price of $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 market cap of $53.96 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 3.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.59 and a quick ratio of 1.40.

W.W. Grainger Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GWW shares. Royal Bank of Canada lifted their price objective on shares of W.W. Grainger from $1,018.00 to $1,125.00 and gave the company a “sector perform” rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of W.W. Grainger from $1,000.00 to $1,015.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Baird R W upgraded shares of W.W. Grainger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Morgan Stanley assumed coverage on shares of W.W. Grainger in a report on Friday, September 6th. They issued an “equal weight” rating and a $990.00 price objective for the company. Finally, Wolfe Research upgraded shares of 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 assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $1,058.50.

Insider Activity at W.W. Grainger

In related news, CEO Donald G. Macpherson sold 12,992 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $1,037.68, for a total value 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 $102,281,004.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other W.W. Grainger news, CEO Donald G. Macpherson sold 12,992 shares of the company’s stock in a transaction on 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $27,524,551.64. Following the transaction, the chief executive officer now owns 111,559 shares of the company’s stock, valued at approximately $111,650,478.38. The trade was a 0.00 % decrease in their position. 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.