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

Sherwin-Williams (NYSE:SHW) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 10.850-11.350 for the period, compared to the consensus earnings per share 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 Stock Performance

Shares of SHW traded down $0.13 during mid-day trading on Wednesday, reaching $302.23. The company had a trading volume of 714,630 shares, compared to its average volume of 1,434,354. The stock has a market capitalization of $76.91 billion, a P/E ratio of 32.66, a PEG ratio of 2.45 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 company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25. The stock has a 50 day moving average of $328.40 and a two-hundred day moving average of $298.73.

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). The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. Sherwin-Williams’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.04 EPS. On average, analysts expect that Sherwin-Williams will post 11.46 earnings per share for the current year.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $0.715 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.95%. Sherwin-Williams’s dividend payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Robert W. Baird lifted their target price on Sherwin-Williams from $300.00 to $310.00 and gave the stock a neutral rating in a research report on Wednesday. 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. Northcoast Research raised Sherwin-Williams from a neutral rating to a buy rating and set a $360.00 price target on the stock in a research note on Tuesday, February 27th. Barclays boosted their price target 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. Finally, Loop Capital cut their price objective on Sherwin-Williams from $395.00 to $380.00 and set a buy rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $333.39.

Insider Buying and Selling

In other news, insider Justin T. Binns sold 1,563 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the sale, the insider now directly owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the sale, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Justin T. Binns sold 1,563 shares of the business’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 value of $529,653.81. Following the completion of the transaction, the insider now directly owns 14,564 shares in the company, valued at $4,935,302.68. The disclosure for this sale can be found here. Insiders have sold a total of 32,050 shares of company stock worth $10,340,237 in the last ninety days. Company 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.