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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Sherwin-Williams from $380.00 to $370.00 and set an outperform rating on the stock in a research note on Thursday. Loop Capital decreased their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a buy rating on the stock in a research note on Wednesday. Citigroup decreased their target price on shares of Sherwin-Williams from $390.00 to $370.00 and set a buy rating on the stock in a research note on Thursday. StockNews.com upgraded shares of Sherwin-Williams from a hold rating to a buy rating in a research note on Friday, March 8th. Finally, Wolfe Research initiated coverage on shares of Sherwin-Williams in a research note on Friday, March 1st. They set a peer perform rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $337.37.

Sherwin-Williams Stock Up 0.4 %

NYSE:SHW traded up $1.07 during mid-day trading on Thursday, reaching $304.80. The company’s stock had a trading volume of 2,004,847 shares, compared to its average volume of 1,461,671. Sherwin-Williams has a 1 year low of $221.76 and a 1 year high of $348.37. The stock has a fifty day moving average of $328.10 and a 200-day moving average of $298.81. The firm has a market capitalization of $77.56 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 2.39 and a beta of 1.15. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 2.32.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same period last year, the company earned $2.04 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts forecast 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. Shareholders 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 dividend yield of 0.94%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s payout ratio is 30.49%.

Insider Buying and Selling 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 shares were 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 of the company’s stock, valued at approximately $2,925,014.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at approximately $2,925,014.66. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $586,881.00. Following the completion of the transaction, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,029,710.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by 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.