The Sherwin-Williams Company Forecasted to Post Q1 2024 Earnings of $2.20 Per Share (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Investment analysts at Seaport Res Ptn upped their Q1 2024 earnings per share estimates for shares of Sherwin-Williams in a research report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will post earnings of $2.20 per share for the quarter, up from their prior estimate of $2.15. 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’ Q4 2024 earnings at $2.13 EPS and FY2024 earnings at $11.37 EPS.

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

Several other analysts have also recently issued reports on the company. Royal Bank of Canada decreased their price objective on Sherwin-Williams from $346.00 to $341.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Wells Fargo & Company increased their target price on shares of Sherwin-Williams from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Mizuho lowered their target price on shares of Sherwin-Williams from $352.00 to $340.00 and set a “buy” rating for the company in a report on Friday, January 26th. Northcoast Research upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 target price for the company in a report on Tuesday, February 27th. Finally, Barclays raised their target price on shares of Sherwin-Williams from $285.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. One equities research 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $325.94.

Sherwin-Williams Stock Down 1.1 %

Shares of SHW opened at $305.96 on Thursday. The stock has a market capitalization of $77.86 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. Sherwin-Williams has a 1 year low of $221.76 and a 1 year high of $348.37. The business’s 50 day simple moving average is $328.52 and its 200-day simple moving average is $297.37. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.83 and a quick ratio of 0.48.

Institutional Trading of Sherwin-Williams

Several large investors have recently bought and sold shares of SHW. Roundview Capital LLC grew its position in Sherwin-Williams by 8.1% during the 1st quarter. Roundview Capital LLC now owns 8,065 shares of the specialty chemicals company’s stock worth $2,013,000 after purchasing an additional 607 shares during the last quarter. Cibc World Market Inc. grew its position in Sherwin-Williams by 189.1% during the 1st quarter. Cibc World Market Inc. now owns 10,409 shares of the specialty chemicals company’s stock worth $2,598,000 after purchasing an additional 6,808 shares during the last quarter. Sei Investments Co. grew its position in Sherwin-Williams by 26.5% during the 1st quarter. Sei Investments Co. now owns 118,763 shares of the specialty chemicals company’s stock worth $29,956,000 after purchasing an additional 24,884 shares during the last quarter. Prudential PLC purchased a new stake in Sherwin-Williams during the 1st quarter worth approximately $1,231,000. Finally, Cetera Investment Advisers grew its position in Sherwin-Williams by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 11,387 shares of the specialty chemicals company’s stock worth $2,842,000 after purchasing an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Insider Buying and Selling at Sherwin-Williams

In other news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 approximately $4,935,302.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 approximately $4,935,302.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mary L. Garceau sold 23,518 shares of Sherwin-Williams stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the completion of the transaction, the senior vice president now directly owns 28,475 shares in the company, valued at approximately $9,187,743.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,050 shares of company stock valued at $10,340,237. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Announces Dividend

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

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.