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

W.W. Grainger (NYSE:GWW) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 38.000-40.500 for the period, compared to the consensus estimate of 39.360. The company issued revenue guidance of $17.2 billion-$17.7 billion, compared to the consensus revenue estimate of $17.5 billion. W.W. Grainger also updated its FY24 guidance to $38.00-40.50 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada increased their target price on W.W. Grainger from $809.00 to $907.00 and gave the company a sector perform rating in a report on Monday, February 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. Oppenheimer increased their target price on W.W. Grainger from $1,075.00 to $1,125.00 and gave the company an outperform rating in a report on Tuesday, March 5th. Stephens increased their target price on W.W. Grainger from $775.00 to $1,000.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. Finally, Loop Capital cut 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 report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, W.W. Grainger currently has a consensus rating of Hold and a consensus target price of $913.89.

W.W. Grainger Stock Down 2.2 %

Shares of W.W. Grainger stock traded down $21.08 on Thursday, reaching $937.24. The company’s stock had a trading volume of 107,403 shares, compared to its average volume of 230,303. The company has a market capitalization of $46.05 billion, a price-to-earnings ratio of 26.47, a P/E/G ratio of 1.87 and a beta of 1.14. The firm’s fifty day simple moving average is $980.01 and its two-hundred day simple moving average is $872.05. W.W. Grainger has a 52 week low of $641.95 and a 52 week 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.

W.W. Grainger (NYSE:GWW) last released its quarterly 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. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.04 billion. W.W. Grainger had a return on equity of 56.54% and a net margin of 11.10%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the business posted $7.14 EPS. Equities analysts anticipate that W.W. Grainger will post 39.26 earnings per share for the current year.

W.W. Grainger Increases Dividend

The business 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 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 0.87%. W.W. Grainger’s payout ratio is 20.55%.

Insider Activity at W.W. Grainger

In related news, VP Paige K. Robbins sold 3,813 shares of W.W. Grainger stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $968.88, for a total transaction of $3,694,339.44. Following the transaction, the vice president now directly owns 4,909 shares in the company, valued at $4,756,231.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Paige K. Robbins sold 3,122 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 4,909 shares in the company, valued at $4,664,629.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paige K. Robbins sold 3,813 shares of W.W. Grainger stock in a transaction dated 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.

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.