Sherwin-Williams (NYSE:SHW) Releases Earnings Results

Sherwin-Williams (NYSE:SHW) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19), Yahoo Finance reports. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $3.20 EPS. 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 Price Performance

SHW stock traded up $0.73 during trading on Wednesday, reaching $362.11. 87,398 shares of the company were exchanged, compared to its average volume of 1,537,129. The company has a market cap of $91.35 billion, a P/E ratio of 36.84, a PEG ratio of 3.04 and a beta of 1.17. Sherwin-Williams has a 52-week low of $232.06 and a 52-week high of $392.57. The stock’s 50 day moving average price is $371.59 and its 200 day moving average price is $334.45. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s dividend payout ratio is currently 29.15%.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on SHW shares. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a research note on Thursday, July 18th. The Goldman Sachs Group upped their price objective on shares of Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. Wells Fargo & Company increased their target price on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets raised their price objective on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $386.29.

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.