Q3 2016 EPS Estimates for W.W. Grainger Inc. (GWW) Increased by Analyst
W.W. Grainger Inc. (NYSE:GWW) – Investment analysts at KeyCorp upped their Q3 2016 earnings per share estimates for shares of W.W. Grainger in a research note issued to investors on Tuesday. KeyCorp analyst R. Cieslak now anticipates that the brokerage will earn $3.01 per share for the quarter, up from their previous estimate of $2.96. KeyCorp also issued estimates for W.W. Grainger’s FY2016 earnings at $11.50 EPS.
W.W. Grainger (NYSE:GWW) last posted its earnings results on Tuesday, July 19th. The company reported $2.89 EPS for the quarter, missing the consensus estimate of $3.17 by $0.28. W.W. Grainger had a return on equity of 31.26% and a net margin of 6.91%. The business had revenue of $2.60 million for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business earned $3.27 earnings per share.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded W.W. Grainger from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. RBC Capital Markets reaffirmed an “underperform” rating and issued a $211.00 target price on shares of W.W. Grainger in a research note on Monday, September 19th. Wells Fargo & Co. reissued a “hold” rating on shares of W.W. Grainger in a research note on Sunday, September 4th. Macquarie started coverage on W.W. Grainger in a research note on Thursday, August 25th. They set an “outperform” rating and a $274.00 price objective for the company. Finally, BMO Capital Markets dropped their price objective on W.W. Grainger from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. W.W. Grainger presently has a consensus rating of “Hold” and an average price target of $228.75.
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W.W. Grainger (NYSE:GWW) traded down 1.92% during midday trading on Friday, reaching $223.70. 112,233 shares of the company traded hands. W.W. Grainger has a one year low of $176.85 and a one year high of $239.95. The stock’s 50 day moving average is $225.64 and its 200 day moving average is $226.49. The company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 20.35 and a beta of 0.81.
A number of hedge funds have recently made changes to their positions in GWW. Compass Capital Management Inc. increased its stake in shares of W.W. Grainger by 3.3% in the second quarter. Compass Capital Management Inc. now owns 86,250 shares of the company’s stock worth $19,600,000 after buying an additional 2,792 shares during the period. Geode Capital Management LLC boosted its stake in W.W. Grainger by 3.9% in the first quarter. Geode Capital Management LLC now owns 484,813 shares of the company’s stock worth $112,953,000 after buying an additional 18,206 shares during the period. Bartlett & Co. LLC boosted its stake in W.W. Grainger by 1.8% in the second quarter. Bartlett & Co. LLC now owns 88,068 shares of the company’s stock worth $20,014,000 after buying an additional 1,575 shares during the period. Bayesian Capital Management LP purchased a new stake in W.W. Grainger during the first quarter worth approximately $420,000. Finally, Swiss National Bank boosted its stake in W.W. Grainger by 12.0% in the second quarter. Swiss National Bank now owns 164,474 shares of the company’s stock worth $37,377,000 after buying an additional 17,600 shares during the period. 82.63% of the stock is owned by institutional investors.
In other W.W. Grainger news, VP Joseph C. High sold 1,722 shares of W.W. Grainger stock in a transaction dated 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 sale, the vice president now directly owns 7,531 shares of the company’s stock, valued at approximately $1,656,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.60% 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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