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

Sherwin-Williams (NYSE:SHW) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $11.10-11.40 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

Several equities analysts have weighed in on SHW shares. Citigroup cut their price target on Sherwin-Williams from $390.00 to $370.00 and set a buy rating for the company in a report on Thursday, April 25th. KeyCorp raised their target price on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an overweight rating in a report on Wednesday. UBS Group decreased their price target on shares of Sherwin-Williams from $385.00 to $355.00 and set a buy rating on the stock in a research note on Tuesday, July 9th. Mizuho reduced their target price on shares of Sherwin-Williams from $340.00 to $334.00 and set a buy rating on the stock in a report on Wednesday, April 24th. Finally, Morgan Stanley upped their target price on shares of Sherwin-Williams from $338.00 to $375.00 and gave the company an overweight rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Sherwin-Williams currently has a consensus rating of Moderate Buy and an average target price of $355.00.

Sherwin-Williams Stock Performance

Shares of Sherwin-Williams 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 market capitalization 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 stock’s fifty day moving average is $306.52 and its two-hundred day moving average is $314.39. The company has a quick ratio of 0.46, a current ratio of 0.81 and a debt-to-equity ratio of 2.17.

Sherwin-Williams (NYSE:SHW) last posted 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 firm had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same period in the prior year, the business posted $3.29 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts expect that Sherwin-Williams will post 11.38 earnings per share for the current year.

Sherwin-Williams Announces Dividend

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

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.