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

Sherwin-Williams (NYSE:SHW) posted its quarterly earnings data on Tuesday. The specialty chemicals company reported $3.70 EPS for the quarter, topping the consensus estimate 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 company had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same period in the previous year, the firm earned $3.29 earnings per share. Sherwin-Williams’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 Price Performance

Shares of NYSE:SHW traded up $6.48 during trading on Friday, hitting $349.22. 1,918,804 shares of the stock were exchanged, compared to its average volume of 1,621,951. The company has a market cap of $88.09 billion, a PE ratio of 36.56, a P/E/G ratio of 2.79 and a beta of 1.16. 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 company has a fifty day moving average price of $306.52 and a two-hundred day moving average price of $314.39. Sherwin-Williams has a 12-month low of $232.06 and a 12-month high of $351.99.

Sherwin-Williams Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be given 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 payout ratio is 30.49%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Robert W. Baird upped their target price on Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays increased their price target on Sherwin-Williams from $315.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BMO Capital Markets upped their target price on Sherwin-Williams from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Wednesday. KeyCorp raised their price target on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, The Goldman Sachs Group raised their price objective on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $355.00.

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.