W.W. Grainger Inc. (NYSE:GWW) updated its FY16 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.40-$11.70 for the period, compared to the Thomson Reuters consensus estimate of $11.57. The company issued revenue guidance of +1.5-2.5% to ~$10.12-10.22 billion, compared to the consensus revenue estimate of $10.17 billion.
Several research firms have recently commented on GWW. Zacks Investment Research cut shares of W.W. Grainger from a hold rating to a sell rating in a report on Tuesday, July 12th. Barclays PLC boosted their price target on shares of W.W. Grainger from $209.00 to $213.00 and gave the company an equal weight rating in a report on Monday, July 18th. Macquarie began coverage on shares of W.W. Grainger in a report on Thursday, August 25th. They set an outperform rating and a $274.00 price target on the stock. Wells Fargo & Co. restated a hold rating on shares of W.W. Grainger in a report on Sunday, September 4th. Finally, RBC Capital Markets reaffirmed an underperform rating and issued a $211.00 price objective on shares of W.W. Grainger in a research note on Monday, September 19th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $228.75.
W.W. Grainger Inc. (NYSE:GWW) opened at 205.86 on Wednesday. The company’s 50-day moving average is $222.13 and its 200 day moving average is $225.65. W.W. Grainger Inc. has a 52-week low of $176.85 and a 52-week high of $239.95. The company has a market cap of $12.44 billion, a price-to-earnings ratio of 18.72 and a beta of 0.81.
W.W. Grainger (NYSE:GWW) last announced its quarterly earnings results on Tuesday, October 18th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.07. W.W. Grainger had a return on equity of 31.26% and a net margin of 6.91%. The company earned $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the firm posted $3.03 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Equities analysts forecast that W.W. Grainger Inc. will post $11.54 earnings per share for the current fiscal year.
In other W.W. Grainger news, VP Joseph C. High sold 1,722 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $220.00, for a total transaction of $378,840.00. Following the completion of the transaction, the vice president now owns 7,531 shares of the company’s stock, valued at $1,656,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of W.W. Grainger by 1.8% in the second quarter. BlackRock Inc. now owns 197,744 shares of the company’s stock valued at $44,937,000 after buying an additional 3,507 shares in the last quarter. BlackRock Group LTD raised its position in shares of W.W. Grainger by 0.9% in the second quarter. BlackRock Group LTD now owns 438,876 shares of the company’s stock valued at $99,735,000 after buying an additional 3,826 shares in the last quarter. BlackRock Japan Co. Ltd raised its position in shares of W.W. Grainger by 0.3% in the second quarter. BlackRock Japan Co. Ltd now owns 73,085 shares of the company’s stock valued at $16,609,000 after buying an additional 205 shares in the last quarter. Bank of Nova Scotia raised its position in shares of W.W. Grainger by 5.5% in the second quarter. Bank of Nova Scotia now owns 1,143 shares of the company’s stock valued at $260,000 after buying an additional 60 shares in the last quarter. Finally, Columbia Partners L L C Investment Management raised its position in shares of W.W. Grainger by 2.6% in the second quarter. Columbia Partners L L C Investment Management now owns 3,102 shares of the company’s stock valued at $704,000 after buying an additional 80 shares in the last quarter. 82.56% of the stock is owned by institutional investors and hedge funds.
About W.W. Grainger
W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.
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