Sherwin-Williams (NYSE:SHW) Issues 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 11.100-11.400 for the period, compared to the consensus estimate of 11.370. The company issued revenue guidance of -. Sherwin-Williams also updated its FY24 guidance to $11.10-11.40 EPS.

Sherwin-Williams Trading Up 3.4 %

SHW traded up $10.95 during trading hours on Tuesday, reaching $333.30. The company’s stock had a trading volume of 883,155 shares, compared to its average volume of 1,587,745. The business’s 50-day moving average is $305.02 and its 200-day moving average is $313.73. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.46. The stock has a market cap of $84.51 billion, a PE ratio of 34.37, a P/E/G ratio of 2.69 and a beta of 1.16. Sherwin-Williams has a fifty-two week low of $232.06 and a fifty-two week high of $348.37.

Sherwin-Williams (NYSE:SHW) last announced its earnings results 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 net margin of 10.52% and a return on equity of 73.74%. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same period in the previous year, the firm 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 11.41 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird increased their price target on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. decreased their price target on shares of Sherwin-Williams from $317.00 to $315.00 and set an overweight rating for the company in a research report on Wednesday, April 24th. StockNews.com lowered Sherwin-Williams from a buy rating to a hold rating in a research report on Thursday, April 25th. KeyCorp upgraded Sherwin-Williams from a sector weight rating to an overweight rating and set a $400.00 target price for the company in a report on Thursday, April 25th. Finally, Citigroup reduced their price target on Sherwin-Williams from $390.00 to $370.00 and set a buy rating on the stock in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $340.65.

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.