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

Sherwin-Williams (NYSE:SHW) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $11.10-11.40 for the period, compared to the consensus EPS estimate of $11.37. The company issued revenue guidance of up low single digits, compared to the consensus revenue estimate of $23.56 billion. Sherwin-Williams also updated its FY 2024 guidance to 11.100-11.400 EPS.

Sherwin-Williams Stock Performance

SHW stock opened at $342.95 on Friday. The firm has a market cap of $86.51 billion, a PE ratio of 36.56, a price-to-earnings-growth ratio of 2.79 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.46 and a debt-to-equity ratio of 2.17. The stock has a 50-day moving average price of $306.52 and a 200-day moving average price of $314.39. Sherwin-Williams has a 1-year low of $232.06 and a 1-year high of $348.37.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.29 earnings per share. As a group, equities research analysts expect that Sherwin-Williams will post 11.38 earnings per share for the current year.

Sherwin-Williams Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently weighed in on SHW. Royal Bank of Canada upped their price objective on shares of Sherwin-Williams from $370.00 to $418.00 and gave the company an outperform rating in a report on Wednesday. Evercore ISI increased their price target on Sherwin-Williams from $360.00 to $365.00 and gave the stock an outperform rating in a report on Wednesday. BMO Capital Markets raised their price objective on Sherwin-Williams from $360.00 to $386.00 and gave the company an outperform rating in a research note on Wednesday. StockNews.com lowered Sherwin-Williams from a buy rating to a hold rating in a research report on Thursday, April 25th. Finally, KeyCorp increased their target price on Sherwin-Williams from $400.00 to $410.00 and gave the stock an overweight rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price 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.