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

Sherwin-Williams (NYSE:SHW) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 10.850-11.350 for the period, compared to the consensus EPS 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 Trading Down 3.7 %

Shares of SHW traded down $11.29 during midday trading on Tuesday, hitting $297.97. 1,683,222 shares of the stock were exchanged, compared to its average volume of 1,402,230. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.48 and a current ratio of 0.83. The firm has a market cap of $75.82 billion, a P/E 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 stock has a fifty day simple moving average of $328.50 and a 200 day simple moving average of $298.39.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share 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 analysts’ expectations of $5.50 billion. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. Sherwin-Williams’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.04 earnings per share. On average, research analysts anticipate that Sherwin-Williams will post 11.46 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.92%.

Analyst Ratings Changes

SHW has been the subject of several recent analyst reports. Northcoast Research upgraded Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 price target for the company in a report on Tuesday, February 27th. Robert W. Baird restated a neutral rating and set a $300.00 price target (up from $270.00) on shares of Sherwin-Williams in a research note on Wednesday, January 3rd. Seaport Res Ptn downgraded shares of Sherwin-Williams from a buy rating to a neutral rating in a research note on Monday, January 8th. Barclays increased their target price on Sherwin-Williams from $285.00 to $315.00 and gave the company an equal weight rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Sherwin-Williams from $285.00 to $317.00 and gave the company an overweight rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $325.94.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total transaction of $586,881.00. Following the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Sherwin-Williams news, SVP Mary L. Garceau sold 23,518 shares of the firm’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 value of $7,588,317.88. Following the transaction, the senior vice president now directly owns 28,475 shares of the company’s stock, valued at $9,187,743.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Gregory P. Sofish sold 1,830 shares of the 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 completion of the transaction, the senior vice president now directly owns 6,329 shares in the company, 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 over the last quarter. Corporate 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.