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

W.W. Grainger (NYSE:GWW) issued its quarterly earnings data on Thursday. The industrial products company reported $9.87 EPS for the quarter, missing the consensus estimate of $9.98 by ($0.11), Briefing.com reports. W.W. Grainger had a return on equity of 53.25% and a net margin of 10.86%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the previous year, the firm earned $9.43 EPS. The business’s revenue was up 4.3% on a year-over-year basis. 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 %

Shares of GWW stock opened at $1,105.07 on Friday. W.W. Grainger has a 1-year low of $747.00 and a 1-year high of $1,130.01. The stock’s fifty day moving average price is $1,035.68 and its 200 day moving average price is $971.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.30 and a quick ratio of 1.40. The company has a market cap of $53.96 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 3.07 and a beta of 1.16.

W.W. Grainger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 11th will be issued a $2.05 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.74%. W.W. Grainger’s dividend payout ratio is presently 22.50%.

Insider Buying and Selling

In other news, CEO Donald G. Macpherson sold 27,502 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $1,000.82, for a total value of $27,524,551.64. Following the completion of the transaction, the chief executive officer now owns 111,559 shares of the company’s stock, valued at $111,650,478.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Donald G. Macpherson sold 12,992 shares of W.W. Grainger stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $1,037.68, for a total value 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 $102,281,004.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald G. Macpherson sold 27,502 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1,000.82, for a total value of $27,524,551.64. Following the sale, the chief executive officer now owns 111,559 shares of the company’s stock, valued at approximately $111,650,478.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on GWW shares. Loop Capital lifted their price objective on W.W. Grainger from $900.00 to $1,100.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Bank of America started coverage on W.W. Grainger in a report on Monday, October 7th. They issued an “underperform” rating and a $925.00 price objective for the company. Baird R W raised W.W. Grainger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Robert W. Baird raised W.W. Grainger from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $975.00 to $1,230.00 in a report on Wednesday, October 16th. Finally, Wolfe Research upgraded W.W. Grainger to a “hold” rating in a research report on Sunday, September 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and one has issued a strong 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 $1,058.50.

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.