A Brush with Success: Sherwin-Williams Shines Bright
Karen Firestone of Aureus Asset Management, on CNBC’s “Halftime Report Final Trades,” touted The Sherwin-Williams Company as her final pick. Sherwin-Williams recently reported fourth-quarter revenue of $5.252 billion, surpassing the $5.220 billion consensus. Their sales saw a modest growth of 0.4% year over year. The Cleveland-based firm also outperformed by reporting adjusted earnings per share (EPS) of $1.81, edging past the $1.80 analyst forecast. Looking ahead, Sherwin-Williams anticipates FY24 adjusted EPS of $10.85-$11.35, differing slightly from the $11.33 analyst consensus.
A Fresh Coat of Optimism: Valero Energy’s Resilience
Joseph Terranova of Virtus Investment Partners highlighted Valero Energy Corporation as his closing play. Despite missing the fourth-quarter revenue estimate of $35.69 billion with $35.41 billion, Valero Energy exceeded expectations in adjusted EPS at $3.55 compared to the anticipated $2.95. Furthermore, the company’s Board of Directors recently approved a dividend increase, raising the regular quarterly cash dividend per share to $1.07 from $1.02. This dividend is payable on March 4, 2024, to shareholders of record as of February 1, 2024.
Market Movements:
- Sherwin-Williams shares declined by 1.7% to close at $336.81 on Wednesday.
- The iShares U.S. Real Estate ETF experienced a 0.5% drop during Wednesday’s session.
- Valero Energy shares surged by 5.2% to settle at $158.63 on Wednesday.
Don’t miss the opportunity to explore our premarket coverage and insightful analysis of the top financial stocks that may face challenges this quarter.
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