The Sherwin-Williams Company (NYSE:SHW) Expected to Earn Q2 2024 Earnings of $3.51 Per Share

The Sherwin-Williams Company (NYSE:SHW) – Equities research analysts at Seaport Res Ptn lifted their Q2 2024 earnings per share (EPS) estimates for shares of Sherwin-Williams in a report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $3.51 per share for the quarter, up from their previous estimate of $3.49. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.46 per share. Seaport Res Ptn also issued estimates for Sherwin-Williams’ Q3 2024 earnings at $3.53 EPS and FY2025 earnings at $12.80 EPS.

A number of other analysts have also recently issued reports on SHW. Robert W. Baird restated a “neutral” rating and set a $300.00 price objective (up from $270.00) on shares of Sherwin-Williams in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. boosted their price objective on Sherwin-Williams from $285.00 to $317.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Northcoast Research upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 price objective on the stock in a research report on Tuesday, February 27th. Citigroup boosted their price objective on Sherwin-Williams from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company upped their price target on Sherwin-Williams from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and an average target price of $325.94.

Sherwin-Williams Stock Down 0.3 %

Shares of SHW stock opened at $309.38 on Friday. Sherwin-Williams has a 12 month low of $221.76 and a 12 month high of $348.37. The firm has a market cap of $78.72 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. The stock has a 50 day moving average of $328.64 and a 200-day moving average of $297.00. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year.

Hedge Funds Weigh In On Sherwin-Williams

Hedge funds have recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in shares of Sherwin-Williams during the third quarter worth about $25,000. Aspect Partners LLC acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth about $25,000. Union Savings Bank acquired a new stake in shares of Sherwin-Williams during the third quarter worth about $28,000. Providence Capital Advisors LLC raised its position in shares of Sherwin-Williams by 44,853.3% during the first quarter. Providence Capital Advisors LLC now owns 6,743 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 6,728 shares during the period. Finally, First United Bank & Trust acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the transaction, the insider now owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the transaction, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Justin T. Binns sold 1,563 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the transaction, the insider now directly owns 14,564 shares in the company, valued at approximately $4,935,302.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by company insiders.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.92%.

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.