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.

Analyst Ratings Changes

Several research firms have weighed in on SHW. Seaport Res Ptn downgraded Sherwin-Williams from a buy rating to a neutral rating in a research note on Monday, January 8th. Wolfe Research began coverage on Sherwin-Williams in a research note on Friday, March 1st. They issued a peer perform rating on the stock. Mizuho lowered their target price on Sherwin-Williams from $352.00 to $340.00 and set a buy rating on the stock in a research note on Friday, January 26th. UBS Group upgraded Sherwin-Williams from a neutral rating to a buy rating and upped their target price for the stock from $312.00 to $402.00 in a research note on Thursday, March 7th. Finally, Barclays upped their target price on Sherwin-Williams from $285.00 to $315.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $325.94.

Sherwin-Williams Price Performance

Shares of Sherwin-Williams stock opened at $309.26 on Tuesday. The business has a 50 day simple moving average of $328.50 and a two-hundred day simple moving average of $298.39. Sherwin-Williams has a 12 month low of $221.76 and a 12 month high of $348.37. The stock has a market capitalization of $78.69 billion, a P/E ratio of 33.43, a PEG ratio of 2.42 and a beta of 1.15. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.83 and a quick ratio of 0.48.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results 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). Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the prior year, the business posted $2.04 EPS. Sherwin-Williams’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts predict 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. Investors of record on Friday, May 17th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.92%. Sherwin-Williams’s dividend payout ratio is presently 30.92%.

Insider Activity at Sherwin-Williams

In related news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the transaction, the insider now directly owns 9,329 shares in the company, valued at $2,925,014.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gregory P. Sofish sold 1,830 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by insiders.

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.