The Sherwin-Williams Company (NYSE:SHW) Forecasted to Post Q1 2024 Earnings of $2.20 Per Share

The Sherwin-Williams Company (NYSE:SHW) – Analysts at Seaport Res Ptn upped their Q1 2024 EPS estimates for Sherwin-Williams in a research note issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will post earnings of $2.20 per share for the quarter, up from their previous estimate of $2.15. 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’ Q4 2024 earnings at $2.13 EPS and FY2024 earnings at $11.37 EPS.

Several other brokerages also recently weighed in on SHW. Robert W. Baird reaffirmed a “neutral” rating and set a $300.00 price target (up previously from $270.00) on shares of Sherwin-Williams in a report on Wednesday, January 3rd. Barclays boosted their price target on shares of Sherwin-Williams from $285.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Royal Bank of Canada reduced their price target on shares of Sherwin-Williams from $346.00 to $341.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. UBS Group upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $312.00 to $402.00 in a research report on Thursday, March 7th. Finally, Argus boosted their price objective on shares of Sherwin-Williams from $330.00 to $378.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and a consensus price target of $325.94.

Sherwin-Williams Price Performance

Shares of NYSE:SHW opened at $309.38 on Thursday. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.83 and a quick ratio of 0.48. Sherwin-Williams has a 1-year low of $221.76 and a 1-year high of $348.37. The company has a market capitalization of $78.72 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.45 and a beta of 1.15. The firm’s 50 day simple moving average is $328.64 and its two-hundred day simple moving average is $297.00.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.01. The company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 earnings per share.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s payout ratio is 30.92%.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,925,014.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Gregory P. Sofish sold 1,830 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $320.70, for a total value of $586,881.00. Following the sale, the senior vice president now directly owns 6,329 shares in the company, valued at approximately $2,029,710.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 32,050 shares of company stock worth $10,340,237 in the last three months. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Sherwin-Williams

A number of institutional investors have recently modified their holdings of SHW. Aspect Partners LLC acquired a new stake in Sherwin-Williams in the 4th quarter worth approximately $25,000. First United Bank & Trust acquired a new stake in Sherwin-Williams in the 4th quarter worth approximately $31,000. OFI Invest Asset Management acquired a new stake in Sherwin-Williams in the 3rd quarter worth approximately $25,000. Tortoise Investment Management LLC boosted its stake in Sherwin-Williams by 158.5% in the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 65 shares in the last quarter. Finally, Union Savings Bank acquired a new stake in Sherwin-Williams in the 3rd quarter worth approximately $28,000. 77.67% of the stock is currently owned by 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.