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 (EPS) guidance of 10.850-11.350 for the period, compared to the consensus estimate of 11.440. The company issued revenue guidance of -. Sherwin-Williams also updated its FY24 guidance to $10.85-11.35 EPS.

Analysts Set New Price Targets

Several brokerages have weighed in on SHW. Citigroup increased their price objective on Sherwin-Williams from $360.00 to $390.00 and gave the company a buy rating in a report on Wednesday, April 10th. Royal Bank of Canada dropped their target price on Sherwin-Williams from $346.00 to $341.00 and set an outperform rating on the stock in a research report on Friday, January 26th. UBS Group upgraded Sherwin-Williams from a neutral rating to a buy rating and increased their target price for the stock from $312.00 to $402.00 in a research report on Thursday, March 7th. Northcoast Research upgraded Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 target price on the stock in a research report on Tuesday, February 27th. Finally, Wells Fargo & Company increased their target price on Sherwin-Williams from $310.00 to $320.00 and gave the stock an equal weight rating in a research report on Friday, January 26th. One investment 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. Based on data from MarketBeat, Sherwin-Williams presently has a consensus rating of Moderate Buy and a consensus target price of $325.94.

Sherwin-Williams Trading Up 1.1 %

Shares of SHW stock opened at $309.26 on Tuesday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.48 and a current ratio of 0.83. Sherwin-Williams has a 52-week low of $221.76 and a 52-week high of $348.37. The company has a market capitalization of $78.69 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15. The business’s fifty day moving average is $328.50 and its 200 day moving average is $298.39.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter last year, the business posted $2.04 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Sherwin-Williams will post 11.46 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.92%. Sherwin-Williams’s payout ratio is 30.92%.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the firm’s 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 owns 9,329 shares in the company, valued at $2,925,014.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the firm’s 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 owns 9,329 shares in the company, valued at $2,925,014.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mary L. Garceau sold 23,518 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $322.66, for a total value of $7,588,317.88. Following the transaction, the senior vice president now directly owns 28,475 shares in the company, valued at $9,187,743.50. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock worth $10,340,237 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

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.