Sherwin-Williams (SHW) Scheduled to Post Earnings on Tuesday

Sherwin-Williams (NYSE:SHW) is set to post its quarterly earnings results before the market opens on Tuesday, October 22nd. Analysts expect Sherwin-Williams to post earnings of $3.55 per share for the quarter. Sherwin-Williams has set its FY24 guidance at $11.10-11.40 EPS and its FY 2024 guidance at 11.100-11.400 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. Sherwin-Williams’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.29 earnings per share. On average, analysts expect Sherwin-Williams to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $388.36 on Monday. The company has a market capitalization of $98.47 billion, a P/E ratio of 41.40, a P/E/G ratio of 3.01 and a beta of 1.17. The business’s 50 day moving average is $370.58 and its two-hundred day moving average is $333.87. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. Sherwin-Williams has a 12-month low of $232.06 and a 12-month high of $392.57.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.715 per share. The ex-dividend date is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.74%. Sherwin-Williams’s payout ratio is currently 30.49%.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SHW has been the subject of a number of research analyst reports. BMO Capital Markets increased their target price on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Redburn Atlantic raised Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. Robert W. Baird increased their target price on Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a report on Friday. Finally, Morgan Stanley increased their price target on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average price target of $383.35.

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.