Sherwin-Williams (NYSE:SHW) Announces Earnings Results

Sherwin-Williams (NYSE:SHW) issued its quarterly earnings results on Tuesday. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19, Briefing.com reports. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the business posted $3.29 EPS. Sherwin-Williams’s revenue for the quarter was up .5% compared to the same quarter last year. Sherwin-Williams updated its FY24 guidance to $11.10-11.40 EPS and its FY 2024 guidance to 11.100-11.400 EPS.

Sherwin-Williams Trading Up 1.9 %

NYSE SHW traded up $6.48 during trading on Friday, hitting $349.22. The stock had a trading volume of 1,928,902 shares, compared to its average volume of 1,622,022. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.46 and a current ratio of 0.81. The stock has a market capitalization of $88.09 billion, a price-to-earnings ratio of 36.56, a P/E/G ratio of 2.79 and a beta of 1.16. Sherwin-Williams has a one year low of $232.06 and a one year high of $351.99. The stock has a 50 day simple moving average of $306.52 and a 200 day simple moving average of $314.39.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be given a $0.715 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.86 annualized dividend and a yield of 0.82%. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup cut their price target on Sherwin-Williams from $390.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Redburn Atlantic upgraded Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut their price objective on Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Barclays raised their price objective on Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average price target of $355.00.

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.