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 11.370. The company issued revenue guidance of -. Sherwin-Williams also updated its FY24 guidance to $11.10-11.40 EPS.

Sherwin-Williams Stock Up 3.3 %

SHW stock opened at $342.95 on Friday. Sherwin-Williams has a 52 week low of $232.06 and a 52 week high of $348.37. The company has a quick ratio of 0.46, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The firm has a 50-day simple moving average of $306.52 and a 200-day simple moving average of $314.39. The stock has a market capitalization of $86.51 billion, a P/E ratio of 36.56, a P/E/G ratio of 2.79 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the prior year, the firm earned $3.29 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. Equities analysts forecast that Sherwin-Williams will post 11.38 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, August 16th. Sherwin-Williams’s dividend payout ratio is presently 30.49%.

Analyst Upgrades and Downgrades

SHW has been the subject of a number of research analyst reports. BMO Capital Markets increased their price target on Sherwin-Williams from $360.00 to $386.00 and gave the stock an outperform rating in a report on Wednesday. Redburn Atlantic upgraded shares of Sherwin-Williams to a strong-buy rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. decreased their price objective on shares of Sherwin-Williams from $317.00 to $315.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. StockNews.com cut Sherwin-Williams from a buy rating to a hold rating in a research note on Thursday, April 25th. Finally, Barclays raised their target price on Sherwin-Williams from $315.00 to $355.00 and gave the company an equal weight rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sherwin-Williams has a consensus rating of Moderate Buy and an average price target of $355.00.

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.