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 Price Performance

NYSE SHW traded down $0.13 during trading on Wednesday, reaching $302.23. The company’s stock had a trading volume of 714,630 shares, compared to its average volume of 1,434,354. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.83 and a quick ratio of 0.48. The stock has a market capitalization of $76.91 billion, a PE ratio of 32.66, a P/E/G ratio of 2.45 and a beta of 1.15. The firm has a fifty day moving average of $328.40 and a 200 day moving average of $298.73. Sherwin-Williams has a one year low of $221.76 and a one 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). Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. Sherwin-Williams’s revenue was down 1.4% compared to the same quarter last year. Analysts expect that Sherwin-Williams will post 11.46 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.92%.

Wall Street Analysts Forecast Growth

SHW has been the topic of several analyst reports. Loop Capital lowered their target price on Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a research report on Wednesday. Wolfe Research started coverage on Sherwin-Williams in a research note on Friday, March 1st. They set a peer perform rating on the stock. UBS Group upgraded Sherwin-Williams from a neutral rating to a buy rating and upped their target price for the stock from $312.00 to $402.00 in a report on Thursday, March 7th. Robert W. Baird upped their target price on Sherwin-Williams from $300.00 to $310.00 and gave the stock a neutral rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on Sherwin-Williams from $317.00 to $315.00 and set an overweight rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $333.39.

Insider Transactions at Sherwin-Williams

In other news, SVP Mary L. Garceau sold 23,518 shares of the company’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 sale, the senior vice president now owns 28,475 shares of the company’s stock, valued at $9,187,743.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Mary L. Garceau sold 23,518 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 28,475 shares in the company, valued at $9,187,743.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Karl J. Jorgenrud sold 2,690 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $322.50, for a total transaction of $867,525.00. Following the completion of the transaction, the insider now owns 12,941 shares of the company’s stock, valued at approximately $4,173,472.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by company 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.