Sherwin-Williams (SHW) Set to Announce Quarterly Earnings on Tuesday

Sherwin-Williams (NYSE:SHW) is scheduled to announce its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $2.24 per share for the quarter. Sherwin-Williams has set its FY24 guidance at $10.85-11.35 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.01. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The firm’s quarterly revenue was up .4% on a year-over-year basis. On average, analysts expect Sherwin-Williams to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Sherwin-Williams Stock Down 1.1 %

NYSE SHW opened at $305.96 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 2.25. Sherwin-Williams has a 1-year low of $221.76 and a 1-year high of $348.37. The company has a 50 day moving average of $328.52 and a 200-day moving average of $298.00. The company has a market cap of $77.85 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.42 and a beta of 1.15.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $0.715 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.93%. Sherwin-Williams’s payout ratio is 30.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Sherwin-Williams in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. Citigroup lifted their price objective on shares of Sherwin-Williams from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Northcoast Research raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 price objective on the stock in a research note on Tuesday, February 27th. Finally, Mizuho decreased their price objective on shares of Sherwin-Williams from $352.00 to $340.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $325.94.

Insider Transactions at Sherwin-Williams

In other news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the transaction, the insider now 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 90 days, insiders have sold 32,050 shares of company stock worth $10,340,237. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

Several hedge funds and other institutional investors have recently bought and sold shares of SHW. Norges Bank acquired a new position in Sherwin-Williams in the fourth quarter valued at $498,336,000. Morgan Stanley lifted its holdings in Sherwin-Williams by 50.9% in the fourth quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company’s stock valued at $1,229,386,000 after buying an additional 1,747,586 shares during the period. Renaissance Technologies LLC lifted its holdings in Sherwin-Williams by 612.8% in the first quarter. Renaissance Technologies LLC now owns 545,300 shares of the specialty chemicals company’s stock valued at $122,567,000 after buying an additional 468,800 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Sherwin-Williams by 775.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 509,706 shares of the specialty chemicals company’s stock valued at $127,233,000 after buying an additional 451,493 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Sherwin-Williams by 1,034.8% in the first quarter. Two Sigma Investments LP now owns 465,665 shares of the specialty chemicals company’s stock valued at $104,668,000 after buying an additional 424,630 shares during the period. Institutional investors and hedge funds own 77.67% of the company’s stock.

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.