W.W. Grainger (NYSE:GWW) Releases FY 2024 Earnings Guidance

by · The Cerbat Gem

W.W. Grainger (NYSE:GWW – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 38.650-39.350 for the period, compared to the consensus earnings per share estimate of 38.610. The company issued revenue guidance of $17.1 billion-$17.3 billion, compared to the consensus revenue estimate of $17.2 billion. W.W. Grainger also updated its FY24 guidance to $38.65-39.35 EPS.

W.W. Grainger Trading Down 0.4 %

W.W. Grainger stock traded down $4.16 during trading on Friday, reaching $1,105.07. The company had a trading volume of 248,255 shares, compared to its average volume of 220,030. The firm has a market capitalization of $53.96 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 3.09 and a beta of 1.15. The stock’s 50 day moving average price is $1,035.68 and its two-hundred day moving average price is $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 debt-to-equity ratio of 0.59, a quick ratio of 1.40 and a current ratio of 2.59.

W.W. Grainger (NYSE:GWW – Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $9.87 earnings per share for the quarter, missing analysts’ consensus estimates of $9.98 by ($0.11). The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.43 EPS. As a group, equities analysts expect that W.W. Grainger will post 38.69 earnings per share for the current fiscal year.

W.W. Grainger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors 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 annualized dividend and a yield of 0.74%. W.W. Grainger’s payout ratio is 22.23%.

Wall Street Analyst Weigh In

GWW has been the subject of several recent research reports. Baird R W raised shares of W.W. Grainger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Robert W. Baird upgraded W.W. Grainger from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $975.00 to $1,230.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on W.W. Grainger from $1,000.00 to $1,015.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Loop Capital boosted their price target on W.W. Grainger from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, Northcoast Research started coverage on shares of W.W. Grainger in a research report on Tuesday, October 29th. They issued a “neutral” rating for the company. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, W.W. Grainger presently has a consensus rating of “Hold” and an average price target of $1,058.50.

Read Our Latest Report on W.W. Grainger

Insider Buying and Selling at W.W. Grainger

In other news, CEO Donald G. Macpherson sold 12,992 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 98,567 shares in the company, valued at approximately $102,281,004.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Donald G. Macpherson sold 12,992 shares of the stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Donald G. Macpherson sold 27,502 shares of W.W. Grainger stock in a transaction that occurred on Monday, September 16th. The shares were 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 approximately $111,650,478.38. The trade was 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 currently owned by insiders.

About W.W. Grainger

(Get Free Report)

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.

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