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 11.100-11.400 for the period, compared to the consensus earnings per share estimate of 11.500. The company issued revenue guidance of -. Sherwin-Williams also updated its FY24 guidance to $11.10-11.40 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SHW. The Goldman Sachs Group upped their price objective on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets increased their target price on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. Finally, Robert W. Baird upped their price target on shares of Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.29.

Sherwin-Williams Stock Down 0.3 %

NYSE SHW opened at $361.59 on Friday. Sherwin-Williams has a 52 week low of $232.06 and a 52 week high of $392.57. The firm has a market capitalization of $91.68 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 2.87 and a beta of 1.17. The company has a quick ratio of 0.50, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The company has a fifty day moving average of $371.81 and a two-hundred day moving average of $334.64.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.19). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.20 earnings per share. On average, analysts predict that Sherwin-Williams will post 11.31 earnings per share 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 dividend of $0.715 per share. 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 30.49%.

Insider Activity at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction on Friday, August 30th. The stock was 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

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.