W.W. Grainger (NYSE:GWW) Issues FY24 Earnings Guidance

W.W. Grainger (NYSE:GWW) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $38.00-40.50 for the period, compared to the consensus EPS estimate of $39.46. The company issued revenue guidance of $17.2-17.7 billion, compared to the consensus revenue estimate of $17.48 billion. W.W. Grainger also updated its FY 2024 guidance to 38.000-40.500 EPS.

W.W. Grainger Stock Performance

Shares of GWW traded down $10.48 on Thursday, reaching $947.84. 418,472 shares of the company’s stock traded hands, compared to its average volume of 234,314. The company has a current ratio of 2.88, a quick ratio of 1.64 and a debt-to-equity ratio of 0.66. The stock has a market cap of $46.57 billion, a PE ratio of 26.18, a PEG ratio of 1.87 and a beta of 1.14. The stock’s 50 day simple moving average is $980.09 and its two-hundred day simple moving average is $872.58. W.W. Grainger has a 52-week low of $641.95 and a 52-week high of $1,034.18.

W.W. Grainger (NYSE:GWW) last issued its quarterly earnings results on Friday, February 2nd. The industrial products company reported $8.33 EPS for the quarter, beating analysts’ consensus estimates of $8.05 by $0.28. The company had revenue of $4 billion during 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%. W.W. Grainger’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $7.14 earnings per share. On average, analysts forecast that W.W. Grainger will post 39.26 earnings per share for the current fiscal year.

W.W. Grainger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Monday, May 13th will be issued a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 0.87%. This is a positive change from W.W. Grainger’s previous quarterly dividend of $1.86. The ex-dividend date is Friday, May 10th. W.W. Grainger’s dividend payout ratio is 20.55%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GWW shares. StockNews.com raised W.W. Grainger from a hold rating to a buy rating in a report on Saturday, March 16th. Stephens raised their price target on W.W. Grainger from $775.00 to $1,000.00 and gave the stock an equal weight rating in a report on Tuesday, February 6th. UBS Group raised their price target 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. JPMorgan Chase & Co. raised their price target on W.W. Grainger from $800.00 to $925.00 and gave the stock a neutral rating in a report on Tuesday, February 6th. Finally, Loop Capital lowered W.W. Grainger from a buy rating to a hold rating and raised their price target for the stock from $925.00 to $1,000.00 in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $913.89.

Insider Transactions at W.W. Grainger

In other news, 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 transaction, the vice president now owns 4,909 shares in the company, valued at $4,756,231.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Paige K. Robbins sold 3,122 shares of the firm’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 sale, the vice president now directly owns 4,909 shares of the company’s stock, valued at $4,664,629.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paige K. Robbins sold 3,813 shares of the firm’s 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. Company 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.