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

Sherwin-Williams (NYSE:SHW) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.10-11.40 for the period, compared to the consensus estimate of $11.51. Sherwin-Williams also updated its FY 2024 guidance to 11.100-11.400 EPS.

Sherwin-Williams Stock Performance

Sherwin-Williams stock opened at $361.38 on Wednesday. Sherwin-Williams has a 1-year low of $232.06 and a 1-year high of $392.57. The firm has a market cap of $91.16 billion, a P/E ratio of 36.84, a P/E/G ratio of 3.04 and a beta of 1.17. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. The firm has a 50-day moving average of $371.59 and a 200-day moving average of $334.45.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.20 EPS. Sell-side analysts expect that Sherwin-Williams will post 11.49 EPS for the current year.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.79%. Sherwin-Williams’s dividend payout ratio is currently 29.15%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SHW. Barclays increased their price objective on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research report on Wednesday. BMO Capital Markets increased their price target on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Morgan Stanley upped their price target on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $418.00 price target on shares of Sherwin-Williams in a report on Friday, August 30th. Finally, UBS Group reissued an “underperform” rating on shares of Sherwin-Williams in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $386.29.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is 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.