Sherwin-Williams (NYSE:SHW) Announces Earnings Results

Sherwin-Williams (NYSE:SHW) issued its quarterly earnings results on Tuesday. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19), Yahoo Finance reports. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.20 earnings per share. Sherwin-Williams updated its FY 2024 guidance to 11.100-11.400 EPS and its FY24 guidance to $11.10-11.40 EPS.

Sherwin-Williams Trading Up 1.0 %

SHW traded up $3.52 during trading on Wednesday, hitting $364.90. 234,951 shares of the company’s stock were exchanged, compared to its average volume of 1,537,849. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. Sherwin-Williams has a 1 year low of $232.06 and a 1 year high of $392.57. The stock has a 50 day moving average price of $371.59 and a 200 day moving average price of $334.45. The firm has a market cap of $92.05 billion, a P/E ratio of 36.84, a price-to-earnings-growth ratio of 3.04 and a beta of 1.17.

Sherwin-Williams Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.78%. Sherwin-Williams’s payout ratio is 29.15%.

Wall Street Analysts Forecast Growth

SHW has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Tuesday. Redburn Atlantic upgraded shares of Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. BMO Capital Markets increased their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Barclays raised their target price on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and a consensus price target of $386.29.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by insiders.

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.