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

Sherwin-Williams (NYSE:SHW) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $10.85-11.35 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup increased their price target on Sherwin-Williams from $360.00 to $390.00 and gave the company a buy rating in a report on Wednesday, April 10th. Barclays lifted their price target on shares of Sherwin-Williams from $285.00 to $315.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. Royal Bank of Canada reduced their price objective on shares of Sherwin-Williams from $346.00 to $341.00 and set an outperform rating on the stock in a research note on Friday, January 26th. Robert W. Baird reissued a neutral rating and set a $300.00 price objective (up from $270.00) on shares of Sherwin-Williams in a report on Wednesday, January 3rd. Finally, StockNews.com upgraded shares of Sherwin-Williams from a hold rating to a buy rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $325.94.

Sherwin-Williams Stock Up 1.1 %

Sherwin-Williams stock opened at $309.26 on Tuesday. Sherwin-Williams has a 52 week low of $221.76 and a 52 week high of $348.37. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 2.25. The stock has a market cap of $78.69 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 2.42 and a beta of 1.15. The company’s 50-day moving average price is $328.50 and its two-hundred day moving average price is $298.39.

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 the consensus estimate of $5.50 billion. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. Sherwin-Williams’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.04 EPS. On average, analysts expect that Sherwin-Williams will post 11.46 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s payout ratio is currently 30.92%.

Insider Activity

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams 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 sale, the insider now directly owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 value of $767,859.46. Following the sale, the insider now owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the transaction, the insider now directly owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,050 shares of company stock worth $10,340,237. Corporate 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.