W.W. Grainger Inc. (GWW) Issues FY16 Earnings Guidance
W.W. Grainger Inc. (NYSE:GWW) updated its FY16 earnings guidance on Tuesday. The company provided earnings per share guidance of $11.40-$11.70 for the period, compared to the Thomson Reuters consensus earnings per share 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 equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of W.W. Grainger from a hold rating to a sell rating in a report on Tuesday, September 13th. BMO Capital Markets lowered their target price on shares of W.W. Grainger from $300.00 to $270.00 and set a buy rating for the company in a report on Wednesday, July 20th. Macquarie assumed coverage on shares of W.W. Grainger in a report on Thursday, August 25th. They issued an outperform rating and a $274.00 target price for the company. Royal Bank Of Canada lowered their target price on shares of W.W. Grainger from $197.00 to $187.00 and set an underperform rating for the company in a report on Wednesday, July 20th. Finally, Wells Fargo & Co. restated a hold rating on shares of W.W. Grainger in a report on Sunday, September 4th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $228.75.
Shares of W.W. Grainger Inc. (NYSE:GWW) opened at 214.58 on Tuesday. The stock’s 50 day moving average is $222.96 and its 200-day moving average is $225.86. W.W. Grainger Inc. has a 12-month low of $176.85 and a 12-month high of $239.95. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 19.52 and a beta of 0.81.
W.W. Grainger (NYSE:GWW) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.07. W.W. Grainger had a net margin of 6.91% and a return on equity of 31.26%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period last year, the firm posted $3.03 EPS. W.W. Grainger’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts anticipate that W.W. Grainger Inc. will post $11.54 EPS for the current fiscal year.
In related news, VP Joseph C. High sold 1,722 shares of W.W. Grainger stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $220.00, for a total value of $378,840.00. Following the transaction, the vice president now directly owns 7,531 shares in the company, valued at approximately $1,656,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its position in W.W. Grainger by 34.5% in the second quarter. Mackenzie Financial Corp now owns 759,733 shares of the company’s stock worth $172,649,000 after buying an additional 195,054 shares during the period. WBI Investments Inc. acquired a new stake in W.W. Grainger during the second quarter worth approximately $17,348,000. Janus Capital Management LLC increased its stake in W.W. Grainger by 109.2% in the second quarter. Janus Capital Management LLC now owns 74,430 shares of the company’s stock worth $16,914,000 after buying an additional 38,850 shares during the period. Guggenheim Capital LLC increased its stake in W.W. Grainger by 32.1% in the second quarter. Guggenheim Capital LLC now owns 158,309 shares of the company’s stock worth $35,976,000 after buying an additional 38,480 shares during the period. Finally, Pinkerton Retirement Specialists LLC increased its stake in W.W. Grainger by 764.2% in the second quarter. Pinkerton Retirement Specialists LLC now owns 38,726 shares of the company’s stock worth $881,000 after buying an additional 34,245 shares during the period. Hedge funds and other institutional investors own 82.56% of the company’s stock.
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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