Sherwin-Williams (NYSE:SHW) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Sherwin-Williams (NYSE:SHW) announced its quarterly earnings results on Tuesday. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19, Briefing.com reports. 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 the consensus estimate of $6.33 billion. During the same period in the prior year, the firm posted $3.29 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Sherwin-Williams updated its FY24 guidance to $11.10-11.40 EPS and its FY 2024 guidance to 11.100-11.400 EPS.

Sherwin-Williams Trading Up 1.4 %

Sherwin-Williams stock traded up $4.94 during mid-day trading on Friday, hitting $347.68. The company’s stock had a trading volume of 555,800 shares, compared to its average volume of 1,612,420. Sherwin-Williams has a 1 year low of $232.06 and a 1 year high of $350.69. The company has a current ratio of 0.81, a quick ratio of 0.46 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $87.71 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.

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 issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.82%. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SHW shares. Loop Capital dropped their target price on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Evercore ISI upped their target price on Sherwin-Williams from $360.00 to $365.00 and gave the stock an “outperform” rating in a research note on Wednesday. KeyCorp lifted their price target on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup reduced their price objective on shares of Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average price target of $355.00.

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.