Sherwin-Williams (NYSE:SHW) Issues 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 Up 0.4 %

SHW traded up $1.07 during trading on Thursday, hitting $304.80. The company had a trading volume of 2,004,847 shares, compared to its average volume of 1,461,671. The company has a market cap of $77.56 billion, a PE ratio of 32.49, a P/E/G ratio of 2.39 and a beta of 1.15. The business has a 50-day moving average of $328.10 and a 200-day moving average of $298.81. 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 has a 1-year low of $221.76 and a 1-year high of $348.37.

Sherwin-Williams (NYSE:SHW) last posted 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). The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.04 earnings per share. As a group, analysts forecast that Sherwin-Williams will post 11.46 earnings per share for the current year.

Sherwin-Williams Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on SHW. Evercore ISI lowered their target price on shares of Sherwin-Williams from $385.00 to $380.00 and set an outperform rating for the company in a research note on Tuesday, April 16th. Barclays upped their price target on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an equal weight rating in a report on Monday, January 29th. Robert W. Baird upped their price target on shares of Sherwin-Williams from $300.00 to $310.00 and gave the company a neutral rating in a report on Wednesday. Mizuho dropped their target price on Sherwin-Williams from $340.00 to $334.00 and set a buy rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada dropped their price objective on Sherwin-Williams from $380.00 to $370.00 and set an outperform rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $337.37.

Insider Activity

In related news, insider Todd D. Rea sold 2,449 shares of the 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 completion of the sale, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sherwin-Williams news, SVP Mary L. Garceau sold 23,518 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the sale, the senior vice president now owns 28,475 shares of the company’s stock, valued at approximately $9,187,743.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is currently owned by corporate insiders.

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.