W.W. Grainger (NYSE:GWW) Releases FY24 Earnings Guidance

W.W. Grainger (NYSE:GWW) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $38.00-40.50 for the period, compared to the consensus estimate of $39.46. The company issued revenue guidance of $17.2-17.7 billion, compared to the consensus revenue estimate of $17.48 billion.

Analyst Ratings Changes

Several research firms recently commented on GWW. JPMorgan Chase & Co. increased their target price on shares of W.W. Grainger from $800.00 to $925.00 and gave the company a neutral rating in a research note on Tuesday, February 6th. StockNews.com raised shares of W.W. Grainger from a hold rating to a buy rating in a research note on Saturday, March 16th. UBS Group increased their target price on shares of W.W. Grainger from $740.00 to $1,000.00 and gave the company a neutral rating in a research note on Thursday, March 14th. Loop Capital lowered shares of W.W. Grainger from a buy rating to a hold rating and increased their target price for the company from $925.00 to $1,000.00 in a research note on Tuesday, February 20th. Finally, Stephens increased their target price on shares of W.W. Grainger from $775.00 to $1,000.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $913.89.

W.W. Grainger Stock Up 0.3 %

GWW stock opened at $958.32 on Thursday. W.W. Grainger has a 12-month low of $641.95 and a 12-month high of $1,034.18. The company has a quick ratio of 1.64, a current ratio of 2.88 and a debt-to-equity ratio of 0.66. The company has a market cap of $47.08 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.87 and a beta of 1.14. The company has a 50 day moving average of $980.01 and a two-hundred day moving average of $872.05.

W.W. Grainger (NYSE:GWW) last released its earnings results on Friday, February 2nd. The industrial products company reported $8.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.05 by $0.28. W.W. Grainger had a net margin of 11.10% and a return on equity of 56.54%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the firm earned $7.14 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that W.W. Grainger will post 39.26 earnings per share for the current fiscal year.

W.W. Grainger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 12th were given a $1.86 dividend. The ex-dividend date was Friday, February 9th. This represents a $7.44 dividend on an annualized basis and a yield of 0.78%. W.W. Grainger’s payout ratio is 20.55%.

Insiders Place Their Bets

In other news, VP Paige K. Robbins sold 3,813 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $968.88, for a total transaction of $3,694,339.44. Following the transaction, the vice president now owns 4,909 shares in the company, valued at approximately $4,756,231.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Paige K. Robbins sold 3,813 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $968.88, for a total transaction of $3,694,339.44. Following the transaction, the vice president now owns 4,909 shares in the company, valued at approximately $4,756,231.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paige K. Robbins sold 3,122 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $950.22, for a total transaction of $2,966,586.84. Following the transaction, the vice president now owns 4,909 shares in the company, valued at approximately $4,664,629.98. The disclosure for this sale can be found here. Insiders own 9.50% of the company’s stock.

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.