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

Sherwin-Williams (NYSE:SHW) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Sherwin-Williams Stock Down 0.6 %

Shares of NYSE:SHW traded down $1.78 on Wednesday, reaching $300.58. The company had a trading volume of 624,911 shares, compared to its average volume of 1,433,126. Sherwin-Williams has a twelve month low of $221.76 and a twelve month high of $348.37. The stock has a market capitalization of $76.49 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.45 and a beta of 1.15. The stock has a 50-day moving average price of $328.40 and a 200 day moving average price of $298.73. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data 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). The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.04 EPS. On average, equities analysts expect that Sherwin-Williams will post 11.46 EPS for the current year.

Sherwin-Williams Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $0.715 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.95%. Sherwin-Williams’s dividend payout ratio is 30.92%.

Wall Street Analysts Forecast Growth

SHW has been the subject of a number of research reports. Evercore ISI reduced 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 report on Tuesday, April 16th. Loop Capital decreased their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a research report on Wednesday. Robert W. Baird boosted their price objective on shares of Sherwin-Williams from $300.00 to $310.00 and gave the company a neutral rating in a research report on Wednesday. Royal Bank of Canada cut their target price 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. Finally, Wolfe Research began coverage on shares of Sherwin-Williams in a report on Friday, March 1st. They issued a peer perform rating for the company. 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 data from MarketBeat.com, Sherwin-Williams has an average rating of Moderate Buy and a consensus target price of $329.11.

Insider Buying and Selling at Sherwin-Williams

In related news, SVP Gregory P. Sofish sold 1,830 shares of Sherwin-Williams stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the transaction, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,029,710.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sherwin-Williams news, SVP Mary L. Garceau sold 23,518 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 28,475 shares of the company’s stock, valued at approximately $9,187,743.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gregory P. Sofish sold 1,830 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the sale, the senior vice president now owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The disclosure for this sale can be found here. Insiders sold a total of 32,050 shares of company stock valued at $10,340,237 in the last ninety days. 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.