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 (EPS) guidance of 11.100-11.400 for the period, compared to the consensus estimate of 11.500. The company issued revenue guidance of -.

Sherwin-Williams Trading Down 1.7 %

NYSE:SHW opened at $381.75 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The company’s 50 day moving average is $371.35 and its 200-day moving average is $334.24. The firm 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. Sherwin-Williams has a 12 month low of $232.06 and a 12 month high of $392.57.

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

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 yield of 0.75%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.15%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore ISI raised their price objective on shares of Sherwin-Williams from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Robert W. Baird raised their price target on shares of Sherwin-Williams from $310.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a research report on Friday. Morgan Stanley lifted their target price on Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Barclays upped their price target on Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $383.35.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction dated 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 of the company’s stock, valued at $23,301,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.