Sherwin-Williams (NYSE:SHW) Updates FY24 Earnings Guidance

Sherwin-Williams (NYSE:SHW) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $10.85-11.35 for the period, compared to the consensus earnings per share estimate of $11.46. The company issued revenue guidance of ~$23.28-24.20 billion, compared to the consensus revenue estimate of $23.79 billion. Sherwin-Williams also updated its FY 2024 guidance to 10.850-11.350 EPS.

Sherwin-Williams Stock Up 0.4 %

Shares of Sherwin-Williams stock opened at $304.80 on Friday. Sherwin-Williams has a 1 year low of $221.76 and a 1 year high of $348.37. The business has a 50-day moving average of $328.10 and a two-hundred day moving average of $298.81. The company has a market capitalization of $77.56 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.48.

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 return on equity of 73.74% and a net margin of 10.52%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the company earned $2.04 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts predict that Sherwin-Williams will post 11.44 EPS for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $0.715 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.94%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SHW shares. UBS Group upgraded Sherwin-Williams from a neutral rating to a buy rating and increased their price target for the stock from $312.00 to $402.00 in a report on Thursday, March 7th. Loop Capital decreased their price objective on Sherwin-Williams from $395.00 to $380.00 and set a buy rating for the company in a report on Wednesday. StockNews.com lowered Sherwin-Williams from a buy rating to a hold rating in a research report on Thursday. Barclays upped their price target on Sherwin-Williams from $285.00 to $315.00 and gave the stock an equal weight rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. decreased their price target 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $337.37.

Insider Transactions at Sherwin-Williams

In other news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Sherwin-Williams news, SVP Mary L. Garceau sold 23,518 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the transaction, the senior vice president now owns 28,475 shares in the company, valued at approximately $9,187,743.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,050 shares of company stock worth $10,340,237. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Company Profile

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.