Gabelli Equities Analysts Lift Earnings Estimates for W.W. Grainger, Inc. (GWW)
W.W. Grainger, Inc. (NYSE:GWW) – Equities researchers at Gabelli raised their FY2018 earnings per share estimates for shares of W.W. Grainger in a research note issued on Wednesday. Gabelli analyst J. Bergner now forecasts that the industrial products company will post earnings of $11.10 per share for the year, up from their previous forecast of $10.80. Gabelli also issued estimates for W.W. Grainger’s FY2021 earnings at $14.40 EPS.
W.W. Grainger (NYSE:GWW) last issued its quarterly earnings results on Tuesday, October 17th. The industrial products company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.56 by $0.34. W.W. Grainger had a net margin of 4.83% and a return on equity of 34.25%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the business earned $3.06 earnings per share. W.W. Grainger’s revenue for the quarter was up 1.5% compared to the same quarter last year.
Several other equities analysts have also weighed in on GWW. Oppenheimer Holdings, Inc. raised W.W. Grainger from a “market perform” rating to an “outperform” rating and set a $245.00 target price on the stock in a research note on Wednesday. Royal Bank Of Canada increased their target price on W.W. Grainger from $145.00 to $146.00 and gave the company an “underperform” rating in a research note on Wednesday. UBS AG lowered W.W. Grainger from a “neutral” rating to a “sell” rating and increased their target price for the company from $170.00 to $195.00 in a research note on Thursday. Atlantic Securities raised W.W. Grainger from an “underweight” rating to a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Co set a $210.00 target price on W.W. Grainger and gave the company a “hold” rating in a research note on Wednesday. Seven analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $190.85.
Shares of W.W. Grainger (NYSE GWW) traded up 1.54% during midday trading on Friday, reaching $207.81. 881,352 shares of the company’s stock traded hands. W.W. Grainger has a 52-week low of $155.00 and a 52-week high of $262.71. The firm has a market capitalization of $11.99 billion, a P/E ratio of 23.96 and a beta of 0.76. The stock’s 50 day moving average price is $176.51 and its 200 day moving average price is $179.34.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of W.W. Grainger by 2.0% during the second quarter. Vanguard Group Inc. now owns 5,549,453 shares of the industrial products company’s stock worth $1,001,844,000 after buying an additional 111,244 shares in the last quarter. Longview Partners Guernsey LTD grew its stake in W.W. Grainger by 32.6% in the second quarter. Longview Partners Guernsey LTD now owns 3,755,706 shares of the industrial products company’s stock valued at $678,018,000 after purchasing an additional 923,948 shares in the last quarter. BlackRock Inc. grew its stake in W.W. Grainger by 1.7% in the second quarter. BlackRock Inc. now owns 3,476,970 shares of the industrial products company’s stock valued at $627,699,000 after purchasing an additional 59,673 shares in the last quarter. State Street Corp grew its stake in W.W. Grainger by 5.4% in the second quarter. State Street Corp now owns 3,251,383 shares of the industrial products company’s stock valued at $586,971,000 after purchasing an additional 165,293 shares in the last quarter. Finally, Northern Trust Corp grew its stake in W.W. Grainger by 20.0% in the second quarter. Northern Trust Corp now owns 1,288,602 shares of the industrial products company’s stock valued at $232,633,000 after purchasing an additional 214,775 shares in the last quarter. Institutional investors and hedge funds own 80.48% of the company’s stock.
In related news, VP Eric R. Tapia sold 190 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $208.26, for a total transaction of $39,569.40. Following the completion of the transaction, the vice president now directly owns 3,748 shares in the company, valued at $780,558.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 9.60% of the stock is currently owned by company insiders.
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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