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

The Sherwin-Williams Company (NYSE:SHW) – Research analysts at KeyCorp issued their Q2 2024 earnings per share estimates for shares of Sherwin-Williams in a research report issued to clients and investors on Wednesday, April 24th. KeyCorp analyst A. Yefremov expects that the specialty chemicals company will post earnings per share of $3.48 for the quarter. KeyCorp has a “Overweight” rating and a $400.00 price objective on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.43 per share. KeyCorp also issued estimates for Sherwin-Williams’ Q3 2024 earnings at $3.70 EPS, Q4 2024 earnings at $2.23 EPS, FY2024 earnings at $11.58 EPS and FY2025 earnings at $13.44 EPS.

Other analysts have also issued research reports about the stock. Wolfe Research assumed coverage on shares of Sherwin-Williams in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Wells Fargo & Company lifted their price target on Sherwin-Williams from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Seaport Res Ptn downgraded shares of Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. JPMorgan Chase & Co. reduced their target price on Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Finally, Royal Bank of Canada lowered their price objective on shares of Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Sherwin-Williams has an average rating of “Moderate Buy” and an average target price of $341.39.

Sherwin-Williams Stock Down 2.1 %

Shares of NYSE:SHW opened at $299.60 on Monday. The company has a market capitalization of $76.24 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. The company has a 50 day moving average of $327.76 and a two-hundred day moving average of $300.59. The company has a quick ratio of 0.46, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. Sherwin-Williams has a 52-week low of $221.76 and a 52-week high of $348.37.

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

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is 30.49%.

Insider Transactions at Sherwin-Williams

In related news, 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 value of $529,653.81. Following the transaction, the insider now directly owns 14,564 shares in the company, valued at approximately $4,935,302.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the transaction, 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 document filed with the SEC, which is accessible through this link. Also, SVP Mary L. Garceau sold 23,518 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the completion of the sale, the senior vice president now directly owns 28,475 shares of the company’s stock, valued at $9,187,743.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is owned by insiders.

Institutional Trading of Sherwin-Williams

A number of hedge funds have recently modified their holdings of SHW. Exchange Traded Concepts LLC raised its holdings in Sherwin-Williams by 9,310.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 941 shares of the specialty chemicals company’s stock worth $240,000 after purchasing an additional 931 shares during the last quarter. Oak Thistle LLC bought a new position in Sherwin-Williams in the third quarter valued at approximately $353,000. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Sherwin-Williams by 25.9% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 7,243 shares of the specialty chemicals company’s stock valued at $1,847,000 after purchasing an additional 1,488 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Sherwin-Williams by 10.3% during the third quarter. Valeo Financial Advisors LLC now owns 2,167 shares of the specialty chemicals company’s stock worth $553,000 after buying an additional 203 shares during the last quarter. Finally, HCR Wealth Advisors bought a new position in Sherwin-Williams during the 3rd quarter worth approximately $207,000. Institutional investors own 77.67% of the company’s stock.

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.