Sherwin-Williams (NYSE:SHW) Releases FY24 Earnings Guidance

Sherwin-Williams (NYSE:SHW) updated its FY24 earnings guidance on Tuesday. 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.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an outperform rating and issued a $377.00 price objective (down previously from $385.00) on shares of Sherwin-Williams in a report on Wednesday. Loop Capital decreased their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating for the company in a research report on Wednesday. Evercore ISI decreased their target price on shares of Sherwin-Williams from $385.00 to $380.00 and set an outperform rating for the company in a research report on Tuesday, April 16th. Mizuho decreased their target price on shares of Sherwin-Williams from $340.00 to $334.00 and set a buy rating for the company in a research report on Wednesday. Finally, UBS Group upgraded shares of Sherwin-Williams from a neutral rating to a buy rating and increased their target price for the company from $312.00 to $402.00 in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $337.37.

Sherwin-Williams Stock Up 0.4 %

Shares of NYSE SHW traded up $1.07 during mid-day trading on Thursday, reaching $304.80. The company had a trading volume of 2,004,847 shares, compared to its average volume of 1,461,671. The company has a market capitalization of $77.56 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.39 and a beta of 1.15. The stock has a fifty day moving average of $328.10 and a two-hundred day moving average of $298.81. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.48 and a current ratio of 0.78. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data 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 the consensus estimate of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. Sherwin-Williams’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.04 EPS. As a group, equities research analysts expect that Sherwin-Williams will post 11.46 EPS for the current year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s payout ratio is presently 30.49%.

Insider Activity at Sherwin-Williams

In related news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Karl J. Jorgenrud sold 2,690 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $322.50, for a total value of $867,525.00. Following the sale, the insider now directly owns 12,941 shares of the company’s stock, valued at $4,173,472.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction dated 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 owns 9,329 shares in the company, valued at $2,925,014.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by corporate 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.