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

W.W. Grainger (NYSE:GWW) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 38.000-39.500 for the period, compared to the consensus estimate of 39.150. The company issued revenue guidance of $17.0 billion-$17.3 billion, compared to the consensus revenue estimate of $17.4 billion.

W.W. Grainger Price Performance

Shares of NYSE:GWW traded down $45.79 during midday trading on Thursday, hitting $931.02. The stock had a trading volume of 210,451 shares, compared to its average volume of 243,861. The company’s 50-day moving average price is $925.37 and its 200-day moving average price is $943.82. The company has a market capitalization of $45.69 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. W.W. Grainger has a fifty-two week low of $674.41 and a fifty-two week high of $1,034.18. The company has a quick ratio of 1.33, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

W.W. Grainger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Monday, August 12th will be given a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 0.88%. W.W. Grainger’s dividend payout ratio is 22.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Loop Capital reduced their target price on shares of W.W. Grainger from $1,000.00 to $975.00 and set a hold rating on the stock in a report on Monday, April 29th. Erste Group Bank reissued a hold rating on shares of W.W. Grainger in a report on Friday, June 14th. Stephens raised shares of W.W. Grainger from an equal weight rating to an overweight rating and boosted their target price for the stock from $1,000.00 to $1,250.00 in a report on Monday, April 29th. Robert W. Baird lowered shares of W.W. Grainger from an outperform rating to a neutral rating and reduced their target price for the stock from $1,000.00 to $975.00 in a report on Wednesday, May 29th. Finally, Baird R W lowered shares of W.W. Grainger from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, W.W. Grainger currently has a consensus rating of Hold and an average target price of $997.75.

Insider Activity

In other news, SVP Matt Fortin sold 511 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $915.20, for a total value of $467,667.20. Following the completion of the transaction, the senior vice president now directly owns 1,848 shares in the company, valued at $1,691,289.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.