W.W. Grainger (NYSE:GWW) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

W.W. Grainger (NYSE:GWW) issued 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 firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the company posted $9.61 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. 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 $929.26 on Friday. W.W. Grainger has a 1 year low of $641.95 and a 1 year high of $1,034.18. The company has a market cap of $45.65 billion, a PE ratio of 25.66, a P/E/G ratio of 1.82 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.64. The stock’s 50-day moving average is $979.95 and its 200 day moving average is $875.13.

W.W. Grainger Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GWW. Stephens lifted their price target on W.W. Grainger from $775.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price target on W.W. Grainger from $800.00 to $925.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. StockNews.com lowered W.W. Grainger from a “buy” rating to a “hold” rating in a research note on Friday. Loop Capital lowered W.W. Grainger from a “buy” rating to a “hold” rating and lifted their price target for the stock from $925.00 to $1,000.00 in a research note on Tuesday, February 20th. Finally, UBS Group lifted their price objective on W.W. Grainger from $740.00 to $1,000.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $913.89.

Insider Activity at W.W. Grainger

In other W.W. Grainger news, VP Paige K. Robbins sold 3,122 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Paige K. Robbins sold 3,122 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $950.22, for a total value of $2,966,586.84. Following the sale, the vice president now directly owns 4,909 shares of the company’s stock, valued at approximately $4,664,629.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Paige K. Robbins sold 3,813 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $968.88, for a total value of $3,694,339.44. Following the completion of the sale, the vice president now directly owns 4,909 shares in the company, valued at $4,756,231.92. The disclosure for this sale can be found here. 9.50% of the stock is owned by company insiders.

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.