Sherwin-Williams (NYSE:SHW) Updates 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

NYSE:SHW opened at $361.38 on Wednesday. The firm has a market capitalization 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. Sherwin-Williams has a twelve month low of $232.06 and a twelve month high of $392.57. The company has a fifty day moving average of $371.59 and a 200-day moving average of $334.45. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.19). The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. Sherwin-Williams’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.20 EPS. As a group, sell-side analysts anticipate that Sherwin-Williams will post 11.49 EPS for the current year.

Sherwin-Williams Announces Dividend

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

Analysts Set New Price Targets

SHW has been the subject of several recent research reports. UBS Group reissued an “underperform” rating on shares of Sherwin-Williams in a research report on Friday. Wells Fargo & Company increased their target price on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Robert W. Baird lifted their price target on shares of Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday. KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. Finally, The Goldman Sachs Group boosted their target price on Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $386.29.

Insider Transactions at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

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.