Sherwin-Williams (NYSE:SHW) Issues Quarterly Earnings Results

Sherwin-Williams (NYSE:SHW) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19), Yahoo Finance reports. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the company earned $3.20 earnings per share. Sherwin-Williams updated its FY 2024 guidance to 11.100-11.400 EPS and its FY24 guidance to $11.10-11.40 EPS.

Sherwin-Williams Stock Down 0.3 %

Shares of NYSE SHW traded down $1.13 during midday trading on Thursday, reaching $361.59. 1,379,724 shares of the company’s stock traded hands, compared to its average volume of 1,544,942. The company has a market cap of $91.68 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 2.87 and a beta of 1.17. The stock’s 50 day simple moving average is $371.81 and its 200-day simple moving average is $334.64. The company has a quick ratio of 0.50, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. Sherwin-Williams has a one year low of $232.06 and a one year high of $392.57.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a dividend yield of 0.79%. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SHW shares. JPMorgan Chase & Co. increased their price target on Sherwin-Williams from $360.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Robert W. Baird raised their target price on shares of Sherwin-Williams from $350.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. Finally, Citigroup reduced their price objective on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $395.29.

Insider Buying and Selling

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were 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 owns 63,520 shares in the company, valued at $23,301,041.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by insiders.

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.