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

Sherwin-Williams (NYSE:SHW) updated its FY 2024 earnings guidance on Tuesday. 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.

Wall Street Analysts Forecast Growth

SHW has been the subject of a number of analyst reports. Northcoast Research raised Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 price target for the company in a research report on Tuesday, February 27th. UBS Group raised shares of Sherwin-Williams from a neutral rating to a buy rating and raised their price target for the company from $312.00 to $402.00 in a research report on Thursday, March 7th. JPMorgan Chase & Co. upped their price objective on shares of Sherwin-Williams from $285.00 to $317.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Robert W. Baird reiterated a neutral rating and issued a $300.00 price objective (up previously from $270.00) on shares of Sherwin-Williams in a research note on Wednesday, January 3rd. Finally, Mizuho cut their target price on Sherwin-Williams from $352.00 to $340.00 and set a buy rating on the stock in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Sherwin-Williams presently has a consensus rating of Moderate Buy and an average price target of $325.94.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW traded down $11.29 during trading on Tuesday, hitting $297.97. 1,683,222 shares of the company were exchanged, compared to its average volume of 1,402,230. The company has a market cap of $75.82 billion, a PE ratio of 33.43, a P/E/G ratio of 2.42 and a beta of 1.15. Sherwin-Williams has a 52-week low of $221.76 and a 52-week high of $348.37. 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 50 day moving average of $328.50 and a 200 day moving average of $298.39.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 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 during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the prior year, the business earned $2.04 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Sherwin-Williams will post 11.46 EPS for the current year.

Sherwin-Williams Dividend Announcement

The company also recently announced 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 yield of 0.96%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.92%.

Insider Activity

In related news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Justin T. Binns sold 1,563 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the transaction, the insider now owns 14,564 shares in the company, valued at approximately $4,935,302.68. The disclosure for this sale can be found here. Insiders have sold a total of 32,050 shares of company stock worth $10,340,237 over the last 90 days. 0.60% of the stock is currently owned by 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.