Brokers Issue Forecasts for The Sherwin-Williams Company’s Q2 2024 Earnings (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Research analysts at Seaport Res Ptn increased their Q2 2024 earnings estimates for Sherwin-Williams in a research note issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will earn $3.51 per share for the quarter, up from their previous forecast of $3.49. Seaport Res Ptn currently 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’ Q3 2024 earnings at $3.53 EPS and FY2025 earnings at $12.80 EPS.

SHW has been the subject of a number of other research reports. Royal Bank of Canada cut their price objective on shares of Sherwin-Williams from $346.00 to $341.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Wells Fargo & Company increased their price target on Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Citigroup lifted their price objective on Sherwin-Williams from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. StockNews.com upgraded Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Finally, Evercore ISI lowered their price target on Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating for the company in a report on Tuesday. 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 company. Based on data from MarketBeat.com, Sherwin-Williams has an average rating of “Moderate Buy” and an average target price of $325.94.

Sherwin-Williams Price Performance

NYSE:SHW opened at $305.96 on Friday. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37. The firm has a market cap 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. The company’s 50-day moving average is $328.52 and its two-hundred day moving average is $297.37. 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 (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, topping the consensus estimate of $1.80 by $0.01. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. Sherwin-Williams’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 earnings per share.

Sherwin-Williams Announces Dividend

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

Insiders Place Their Bets

In other news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Todd D. Rea sold 2,449 shares of the business’s 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 directly owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the sale, the insider now directly owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The disclosure for this sale can be found here. Insiders have sold a total of 32,050 shares of company stock worth $10,340,237 over the last quarter. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Sherwin-Williams

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Hawaiian Bank raised its position in shares of Sherwin-Williams by 0.5% in the 4th quarter. First Hawaiian Bank now owns 7,559 shares of the specialty chemicals company’s stock valued at $2,358,000 after purchasing an additional 34 shares in the last quarter. Tsfg LLC raised its stake in Sherwin-Williams by 4.7% during the fourth quarter. Tsfg LLC now owns 754 shares of the specialty chemicals company’s stock valued at $235,000 after buying an additional 34 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in Sherwin-Williams by 5.5% during the 4th quarter. Manchester Capital Management LLC now owns 666 shares of the specialty chemicals company’s stock worth $208,000 after buying an additional 35 shares during the last quarter. Tealwood Asset Management Inc. grew its position in shares of Sherwin-Williams by 0.7% in the 1st quarter. Tealwood Asset Management Inc. now owns 4,913 shares of the specialty chemicals company’s stock worth $1,706,000 after acquiring an additional 35 shares in the last quarter. Finally, Ellsworth Advisors LLC increased its holdings in shares of Sherwin-Williams by 0.9% in the 4th quarter. Ellsworth Advisors LLC now owns 4,108 shares of the specialty chemicals company’s stock valued at $1,281,000 after acquiring an additional 36 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

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.