The Sherwin-Williams Company Expected to Earn Q2 2024 Earnings of $3.44 Per Share (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Research analysts at Seaport Res Ptn lowered their Q2 2024 earnings estimates for shares of Sherwin-Williams in a report released on Tuesday, April 23rd. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $3.44 per share for the quarter, down from their prior estimate of $3.51. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.44 per share. Seaport Res Ptn also issued estimates for Sherwin-Williams’ Q3 2024 earnings at $3.52 EPS, Q4 2024 earnings at $2.12 EPS, FY2024 earnings at $11.25 EPS, Q3 2025 earnings at $3.99 EPS and FY2025 earnings at $12.71 EPS.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.04 earnings per share.

A number of other brokerages have also recently issued reports on SHW. Evercore ISI dropped their price target on shares of Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. KeyCorp upgraded shares of Sherwin-Williams from a “sector weight” rating to an “overweight” rating and set a $400.00 price target on the stock in a research note on Thursday. Mizuho dropped their price target on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company upped their price target on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Finally, Northcoast Research upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 target price on the stock in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $337.37.

Sherwin-Williams Stock Up 0.4 %

NYSE:SHW opened at $304.80 on Friday. The company has a market capitalization of $77.56 billion, a PE ratio of 32.49, a P/E/G ratio of 2.41 and a beta of 1.15. The firm’s 50-day moving average price is $328.10 and its 200-day moving average price is $298.81. Sherwin-Williams has a 1-year low of $221.76 and a 1-year high of $348.37. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.48.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is 30.49%.

Insider Buying and Selling

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 is available at this link. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 is available at this link. Also, insider Todd D. Rea sold 2,449 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sherwin-Williams

A number of institutional investors have recently added to or reduced their stakes in SHW. First Hawaiian Bank boosted its position in shares of Sherwin-Williams by 0.5% during the 4th quarter. First Hawaiian Bank now owns 7,559 shares of the specialty chemicals company’s stock valued at $2,358,000 after acquiring an additional 34 shares during the last quarter. Tsfg LLC boosted its position in shares of Sherwin-Williams by 4.7% during the 4th quarter. Tsfg LLC now owns 754 shares of the specialty chemicals company’s stock valued at $235,000 after acquiring an additional 34 shares during the last quarter. Manchester Capital Management LLC boosted its position in shares of Sherwin-Williams by 5.5% during the 4th quarter. Manchester Capital Management LLC now owns 666 shares of the specialty chemicals company’s stock valued at $208,000 after acquiring an additional 35 shares during the last quarter. Tealwood Asset Management Inc. boosted its position in shares of Sherwin-Williams by 0.7% during the 1st quarter. Tealwood Asset Management Inc. now owns 4,913 shares of the specialty chemicals company’s stock valued at $1,706,000 after acquiring an additional 35 shares during the last quarter. Finally, Ellsworth Advisors LLC boosted its position in shares of Sherwin-Williams by 0.9% during 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.

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.