NEW YORK (TheStreet) -- Shares of Sherwin-Williams Co. (SHW) are jumping 3.21% to $208.21 after it issued upside earnings per share guidance for the third quarter, saying it expects $3.15 to $3.25 per share, up from the Capital IQ consensus estimate of $3.09.
The painting materials company also raised earnings per share guidance for the 2014 fiscal year to a range of $8.50 to $8.70 versus the Capital IQ consensus estimate of $8.54.
Sherwin reported second quarter earnings of $2.94 per share, which 3 cents below the consensus estimate, although revenue rose 12% year on year to $3.04 billion in the period.
Separately, TheStreet Ratings team rates SHERWIN-WILLIAMS CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate SHERWIN-WILLIAMS CO (SHW) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."