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

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

Sherwin-Williams Price Performance

SHW stock opened at $381.75 on Tuesday. The stock has a market cap of $96.30 billion, a price-to-earnings ratio of 38.91, a P/E/G ratio of 3.04 and a beta of 1.17. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The company has a 50 day simple moving average of $371.35 and a 200 day simple moving average of $334.24. Sherwin-Williams has a 1 year low of $232.06 and a 1 year high of $392.57.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the previous year, the business earned $3.29 earnings per share. Sherwin-Williams’s revenue was up .5% compared to the same quarter last year. Research analysts anticipate that Sherwin-Williams will post 11.49 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently disclosed 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 is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.75%. Sherwin-Williams’s dividend payout ratio is currently 29.15%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SHW shares. Morgan Stanley boosted their price target on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $418.00 price objective on shares of Sherwin-Williams in a research note on Friday, August 30th. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research note on Friday. Finally, BMO Capital Markets increased their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $383.35.

Insider Buying and Selling at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s 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 sale, the chief financial officer now owns 63,520 shares in the company, valued at approximately $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate 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.