Sherwin-Williams (NYSE:SHW) Releases FY 2024 Earnings Guidance

Sherwin-Williams (NYSE:SHW) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 10.850-11.350 for the period, compared to the consensus earnings per share estimate of 11.440. The company issued revenue guidance of -. Sherwin-Williams also updated its FY24 guidance to $10.85-11.35 EPS.

Sherwin-Williams Stock Performance

NYSE SHW traded up $3.63 during midday trading on Friday, hitting $308.44. The company had a trading volume of 131,491 shares, compared to its average volume of 1,444,257. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. The stock has a market cap of $78.49 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 2.41 and a beta of 1.15. The firm has a fifty day simple moving average of $328.10 and a two-hundred day simple moving average of $298.81. Sherwin-Williams has a fifty-two week low of $221.76 and a fifty-two week high of $348.37.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the business earned $2.04 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts forecast that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Sherwin-Williams from $380.00 to $370.00 and set an outperform rating for the company in a report on Thursday. Robert W. Baird raised their target price on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a neutral rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Sherwin-Williams from $317.00 to $315.00 and set an overweight rating for the company in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Sherwin-Williams from $310.00 to $320.00 and gave the company an equal weight rating in a report on Friday, January 26th. Finally, Evercore ISI cut their target price on shares of Sherwin-Williams from $385.00 to $380.00 and set an outperform rating on the stock in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $337.37.

Insider Transactions at Sherwin-Williams

In related news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the transaction, the senior vice president now directly owns 6,329 shares in the company, valued at $2,029,710.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the completion of the transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now directly owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by corporate insiders.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.