W.W. Grainger, Inc. (GWW) Issues Quarterly Earnings Results

W.W. Grainger, Inc. (GWW) Issues Quarterly  Earnings Results

W.W. Grainger, Inc. (NYSE:GWW) issued its quarterly earnings results on Tuesday. The industrial products company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.34, Bloomberg Earnings reports. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.65 billion. W.W. Grainger had a net margin of 5.08% and a return on equity of 34.03%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 earnings per share. W.W. Grainger updated its FY17 guidance to $10.40-10.90 EPS.

Shares of W.W. Grainger (NYSE GWW) traded up 10.7973% during midday trading on Tuesday, reaching $202.0499. 3,714,164 shares of the company traded hands. The stock has a 50 day moving average price of $172.05 and a 200 day moving average price of $179.51. W.W. Grainger has a 1-year low of $155.00 and a 1-year high of $262.71. The firm has a market capitalization of $11.66 billion, a PE ratio of 23.2911 and a beta of 0.76.

A number of hedge funds have recently made changes to their positions in the business. Cypress Wealth Advisors LLC lifted its holdings in W.W. Grainger by 0.4% in the 1st quarter. Cypress Wealth Advisors LLC now owns 988 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 4 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in W.W. Grainger by 1.0% in the 2nd quarter. Salem Investment Counselors Inc. now owns 606 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 6 shares in the last quarter. Trust Co. of Vermont lifted its holdings in W.W. Grainger by 0.7% in the 2nd quarter. Trust Co. of Vermont now owns 1,293 shares of the industrial products company’s stock valued at $234,000 after purchasing an additional 9 shares in the last quarter. Brown Advisory Securities LLC lifted its holdings in W.W. Grainger by 1.5% in the 1st quarter. Brown Advisory Securities LLC now owns 1,001 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 15 shares in the last quarter. Finally, Profund Advisors LLC lifted its holdings in W.W. Grainger by 1.2% in the 2nd quarter. Profund Advisors LLC now owns 1,394 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 80.48% of the company’s stock.

GWW has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of W.W. Grainger from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. BidaskClub upgraded shares of W.W. Grainger from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Credit Suisse Group upgraded shares of W.W. Grainger to a “hold” rating and set a $175.00 price objective on the stock in a research report on Wednesday, July 19th. BMO Capital Markets reiterated a “market perform” rating and set a $178.00 price objective (up previously from $165.00) on shares of W.W. Grainger in a research report on Monday, October 9th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $174.00 price objective (down previously from $202.50) on shares of W.W. Grainger in a research report on Wednesday, July 12th. Six equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. W.W. Grainger currently has an average rating of “Hold” and an average target price of $178.25.

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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