W W Grainger Inc (NYSE:GWW) – Research analysts at William Blair lowered their Q3 2017 earnings per share (EPS) estimates for shares of W W Grainger in a note issued to investors on Tuesday. William Blair analyst R. Merkel now forecasts that the industrial products company will post earnings per share of $2.86 for the quarter, down from their prior forecast of $3.13. William Blair also issued estimates for W W Grainger’s FY2019 earnings at $13.18 EPS.
W W Grainger (NYSE:GWW) last announced its quarterly earnings data on Tuesday, April 18th. The industrial products company reported $2.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.99 by $0.11. The company earned $2.54 billion during the quarter, compared to analysts’ expectations of $2.57 billion. W W Grainger had a net margin of 5.98% and a return on equity of 32.79%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.18 earnings per share. COPYRIGHT VIOLATION NOTICE: “William Blair Comments on W W Grainger Inc’s Q3 2017 Earnings (GWW)” was posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.themarketsdaily.com/2017/04/21/william-blair-comments-on-w-w-grainger-incs-q3-2017-earnings-gww.html.
Several other equities research analysts have also recently commented on the company. Wells Fargo & Co restated a “market perform” rating on shares of W W Grainger in a research note on Saturday, January 28th. BMO Capital Markets cut W W Grainger from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $290.00 to $255.00 in a research note on Thursday, March 30th. Deutsche Bank AG upgraded W W Grainger from a “sell” rating to a “hold” rating and upped their price target for the stock from $194.00 to $246.00 in a research note on Thursday, January 26th. Morgan Stanley upped their price target on W W Grainger from $229.00 to $233.00 and gave the stock an “underweight” rating in a research note on Thursday, January 26th. Finally, Royal Bank of Canada restated a “sell” rating and set a $176.00 price target on shares of W W Grainger in a research note on Thursday, January 5th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. W W Grainger presently has a consensus rating of “Hold” and a consensus target price of $230.00.
Shares of W W Grainger (NYSE:GWW) traded down 0.77% during trading on Thursday, hitting $194.45. 327,262 shares of the company traded hands. The stock has a market capitalization of $11.44 billion, a PE ratio of 19.70 and a beta of 0.82. W W Grainger has a 52-week low of $192.50 and a 52-week high of $262.71. The company has a 50-day moving average of $234.85 and a 200-day moving average of $233.23.
A number of hedge funds and other institutional investors have recently made changes to their positions in GWW. Norges Bank purchased a new stake in W W Grainger during the fourth quarter valued at $114,153,000. Allianz Asset Management AG raised its stake in W W Grainger by 177.7% in the fourth quarter. Allianz Asset Management AG now owns 390,177 shares of the industrial products company’s stock valued at $90,618,000 after buying an additional 249,674 shares during the period. Alyeska Investment Group L.P. purchased a new stake in W W Grainger during the fourth quarter valued at $44,851,000. State Street Corp raised its stake in W W Grainger by 5.3% in the fourth quarter. State Street Corp now owns 3,247,283 shares of the industrial products company’s stock valued at $754,163,000 after buying an additional 164,272 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in W W Grainger during the fourth quarter valued at $29,493,000. 80.18% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Chairman James T. Ryan sold 2,369 shares of the company’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $252.46, for a total transaction of $598,077.74. Following the transaction, the chairman now owns 167,842 shares of the company’s stock, valued at $42,373,391.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ronald L. Jadin sold 31,186 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $249.06, for a total value of $7,767,185.16. Following the transaction, the vice president now directly owns 51,645 shares in the company, valued at approximately $12,862,703.70. The disclosure for this sale can be found here. Insiders have sold 34,940 shares of company stock worth $8,712,647 in the last ninety days. 9.60% of the stock is currently owned by corporate 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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