W.W. Grainger (NYSE:GWW) Posts Earnings Results, Beats Estimates By $0.05 EPS

W.W. Grainger (NYSE:GWW) released its quarterly earnings results on Thursday. The industrial products company reported $9.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.57 by $0.05, Briefing.com reports. W.W. Grainger had a return on equity of 54.31% and a net margin of 10.94%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the previous year, the company posted $9.61 EPS. The business’s revenue was up 3.5% on a year-over-year basis. W.W. Grainger updated its FY24 guidance to $38.00-40.50 EPS and its FY 2024 guidance to 38.000-40.500 EPS.

W.W. Grainger Stock Down 2.0 %

Shares of NYSE:GWW opened at $928.65 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.64 and a debt-to-equity ratio of 0.51. The firm has a market cap of $45.62 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.86 and a beta of 1.14. The stock’s 50-day moving average price is $979.95 and its two-hundred day moving average price is $873.99. W.W. Grainger has a 12-month low of $641.95 and a 12-month high of $1,034.18.

W.W. Grainger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Monday, May 13th will be given a dividend of $2.05 per share. The ex-dividend date of this dividend is Friday, May 10th. This is an increase from W.W. Grainger’s previous quarterly dividend of $1.86. This represents a $8.20 annualized dividend and a yield of 0.88%. W.W. Grainger’s dividend payout ratio is 20.54%.

Analyst Ratings Changes

GWW has been the subject of a number of research reports. Oppenheimer lifted their target price on shares of W.W. Grainger from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. increased their target price on W.W. Grainger from $800.00 to $925.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Royal Bank of Canada raised their price target on W.W. Grainger from $809.00 to $907.00 and gave the stock a “sector perform” rating in a research report on Monday, February 5th. Loop Capital downgraded W.W. Grainger from a “buy” rating to a “hold” rating and upped their price objective for the company from $925.00 to $1,000.00 in a research report on Tuesday, February 20th. Finally, StockNews.com cut W.W. Grainger from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $913.89.

Insider Activity

In related news, VP Paige K. Robbins sold 3,813 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $968.88, for a total value of $3,694,339.44. Following the sale, the vice president now directly owns 4,909 shares of the company’s stock, valued at $4,756,231.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other W.W. Grainger news, VP Paige K. Robbins sold 3,813 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $4,756,231.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Paige K. Robbins sold 3,122 shares of W.W. Grainger stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $950.22, for a total transaction of $2,966,586.84. Following the completion of 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. 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.