Zacks: Analysts Anticipate W.W. Grainger, Inc. (GWW) Will Announce Quarterly Sales of $2.63 Billion
Equities analysts predict that W.W. Grainger, Inc. (NYSE:GWW) will announce $2.63 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for W.W. Grainger’s earnings. The highest sales estimate is $2.68 billion and the lowest is $2.52 billion. W.W. Grainger reported sales of $2.60 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The company is expected to report its next earnings results before the market opens on Tuesday, October 17th.
On average, analysts expect that W.W. Grainger will report full-year sales of $2.63 billion for the current financial year, with estimates ranging from $10.15 billion to $10.42 billion. For the next financial year, analysts anticipate that the company will report sales of $10.84 billion per share, with estimates ranging from $10.37 billion to $11.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for W.W. Grainger.
W.W. Grainger (NYSE:GWW) last posted its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.65 by $0.09. W.W. Grainger had a net margin of 5.08% and a return on equity of 34.03%. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the firm posted $2.89 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis.
Several analysts have weighed in on GWW shares. Royal Bank Of Canada dropped their price objective on W.W. Grainger from $166.00 to $156.00 and set an “underperform” rating for the company in a report on Monday, May 15th. Deutsche Bank AG cut W.W. Grainger from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $246.00 to $145.00 in a report on Thursday, May 18th. UBS AG reissued a “neutral” rating and set a $180.00 price objective (down from $275.00) on shares of W.W. Grainger in a report on Wednesday, May 24th. BMO Capital Markets reissued a “hold” rating and set a $198.00 price objective on shares of W.W. Grainger in a report on Thursday, May 25th. Finally, Macquarie cut W.W. Grainger from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $286.00 to $200.00 in a report on Friday, May 26th. Five investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $179.42.
Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of W.W. Grainger by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 5,438,209 shares of the industrial products company’s stock valued at $1,265,798,000 after purchasing an additional 192,967 shares during the period. Tobam acquired a new position in shares of W.W. Grainger in the 2nd quarter valued at approximately $7,228,000. First Business Financial Services Inc. grew its position in shares of W.W. Grainger by 21.4% in the 1st quarter. First Business Financial Services Inc. now owns 2,000 shares of the industrial products company’s stock valued at $466,000 after purchasing an additional 353 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in shares of W.W. Grainger by 134.7% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 22,793 shares of the industrial products company’s stock valued at $5,305,000 after purchasing an additional 13,083 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of W.W. Grainger by 2.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 168,049 shares of the industrial products company’s stock valued at $30,338,000 after purchasing an additional 4,210 shares during the period. Institutional investors and hedge funds own 80.57% of the company’s stock.
W.W. Grainger (GWW) opened at 164.97 on Friday. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 19.02 and a beta of 0.74. W.W. Grainger has a 52-week low of $155.00 and a 52-week high of $262.71. The stock’s 50 day moving average is $164.27 and its 200 day moving average is $193.04.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were given a dividend of $1.28 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $5.12 annualized dividend and a dividend yield of 3.10%. W.W. Grainger’s payout ratio is currently 59.12%.
W.W. Grainger Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for W.W. Grainger Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W.W. Grainger Inc. and related companies with MarketBeat.com's FREE daily email newsletter.