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 earnings per share (EPS) guidance of $10.85-11.35 for the period, compared to the consensus 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.

Analysts Set New Price Targets

SHW has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Sherwin-Williams from $285.00 to $317.00 and gave the company an overweight rating in a research note on Friday, January 26th. Wolfe Research initiated coverage on Sherwin-Williams in a report on Friday, March 1st. They set a peer perform rating for the company. Mizuho dropped their target price on Sherwin-Williams from $352.00 to $340.00 and set a buy rating on the stock in a research report on Friday, January 26th. Evercore ISI cut their price target on Sherwin-Williams from $385.00 to $380.00 and set an outperform rating for the company in a research note on Tuesday, April 16th. Finally, Citigroup boosted their price target on Sherwin-Williams from $360.00 to $390.00 and gave the company a buy rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average 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 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 stock has a 50-day moving average of $328.50 and a 200-day moving average of $298.39. Sherwin-Williams has a 1-year low of $221.76 and a 1-year high of $348.37.

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

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is presently 30.92%.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, SVP Gregory P. Sofish sold 1,830 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was 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 of the company’s stock, valued at $2,029,710.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the completion of the transaction, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Justin T. Binns sold 1,563 shares of the company’s 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. Over the last three months, insiders sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is owned by insiders.

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.