Sherwin-Williams (SHW) to Release Quarterly Earnings on Tuesday

Sherwin-Williams (NYSE:SHW) will be posting its earnings data before the market opens on Tuesday, July 23rd. Analysts expect Sherwin-Williams to post earnings of $3.51 per share for the quarter. Sherwin-Williams has set its FY24 guidance at $10.85-11.35 EPS and its FY 2024 guidance at 10.850-11.350 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.05). The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. On average, analysts expect Sherwin-Williams to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Sherwin-Williams Trading Down 1.1 %

Shares of SHW opened at $321.85 on Monday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.46. Sherwin-Williams has a 1-year low of $232.06 and a 1-year high of $348.37. The company has a market capitalization of $81.61 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.69 and a beta of 1.16. The firm’s 50 day simple moving average is $304.89 and its 200 day simple moving average is $313.54.

Sherwin-Williams Announces Dividend

The business also recently disclosed 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. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, August 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Analyst Ratings Changes

A number of research firms have weighed in on SHW. BMO Capital Markets lowered their price target on Sherwin-Williams from $377.00 to $360.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. UBS Group dropped their target price on Sherwin-Williams from $385.00 to $355.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Loop Capital decreased their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Evercore ISI upped their price objective on shares of Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Finally, Royal Bank of Canada lowered their price target on shares of Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $340.65.

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.