Brokers Set Expectations for W.W. Grainger Inc.’s FY2016 Earnings (GWW)
W.W. Grainger Inc. (NYSE:GWW) – Equities research analysts at Gabelli reduced their FY2016 earnings estimates for shares of W.W. Grainger in a report released on Monday. Gabelli analyst J. Bergner now forecasts that the firm will post earnings of $10.75 per share for the year, down from their previous forecast of $10.80.
Several other equities analysts have also recently commented on GWW. BMO Capital Markets reaffirmed a “buy” rating on shares of W.W. Grainger in a research note on Friday, June 10th. Credit Suisse Group AG assumed coverage on shares of W.W. Grainger in a research note on Friday, June 17th. They issued a “neutral” rating and a $222.00 price target for the company. Zacks Investment Research cut shares of W.W. Grainger from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Barclays PLC boosted their price target on shares of W.W. Grainger from $209.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. Finally, Royal Bank Of Canada cut their price target on shares of W.W. Grainger from $197.00 to $187.00 and set an “underperform” rating for the company in a research note on Wednesday, July 20th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $228.75.
W.W. Grainger (NYSE:GWW) opened at 218.04 on Tuesday. The company’s 50-day moving average is $226.34 and its 200-day moving average is $226.46. W.W. Grainger has a 52 week low of $176.85 and a 52 week high of $239.95. The company has a market cap of $13.17 billion, a P/E ratio of 19.83 and a beta of 0.77.
W.W. Grainger (NYSE:GWW) last announced its earnings results on Tuesday, July 19th. The company reported $2.89 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by $0.28. W.W. Grainger had a return on equity of 31.26% and a net margin of 6.91%. The firm had revenue of $2.60 million for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the business earned $3.27 EPS.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 8th were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 4th. W.W. Grainger’s dividend payout ratio is presently 44.40%.
In other news, VP Joseph C. High sold 1,722 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $220.00, for a total value of $378,840.00. Following the sale, the vice president now directly owns 7,531 shares of the company’s stock, valued at approximately $1,656,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.60% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Evercore Wealth Management LLC increased its stake in shares of W.W. Grainger by 4.4% in the second quarter. Evercore Wealth Management LLC now owns 861 shares of the company’s stock valued at $195,000 after buying an additional 36 shares during the period. Williams Jones & Associates LLC increased its stake in shares of W.W. Grainger by 2,123.9% in the second quarter. Williams Jones & Associates LLC now owns 16,724 shares of the company’s stock valued at $3,801,000 after buying an additional 15,972 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of W.W. Grainger during the second quarter valued at approximately $518,000. Kentucky Retirement Systems purchased a new stake in shares of W.W. Grainger during the second quarter valued at approximately $1,090,000. Finally, Mason Street Advisors LLC purchased a new stake in shares of W.W. Grainger during the second quarter valued at approximately $1,727,000. 82.63% of the stock is currently owned by institutional investors.
About W.W. Grainger
W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.
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