Q1 2024 EPS Estimates for The Sherwin-Williams Company Raised by Seaport Res Ptn (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Equities researchers at Seaport Res Ptn raised their Q1 2024 earnings estimates for shares of Sherwin-Williams in a report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will post earnings per share of $2.20 for the quarter, up from their previous forecast 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.

Other equities analysts have also recently issued research reports about the stock. Citigroup lifted their price objective on shares of Sherwin-Williams from $360.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lifted their target price on shares of Sherwin-Williams from $285.00 to $317.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Mizuho dropped their target price on shares of Sherwin-Williams from $352.00 to $340.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Barclays lifted their target price 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. Finally, StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $325.94.

Sherwin-Williams Stock Up 0.6 %

Sherwin-Williams stock opened at $310.16 on Thursday. The company’s 50-day moving average price is $328.69 and its two-hundred day moving average price is $296.92. The stock has a market cap of $78.92 billion, a price-to-earnings ratio of 33.53, a PEG ratio of 2.45 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 2.25. Sherwin-Williams has a 52 week low of $221.76 and a 52 week high of $348.37.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.80 by $0.01. The firm had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. Sherwin-Williams’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company earned $1.89 EPS.

Sherwin-Williams Announces Dividend

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 given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 0.92%. Sherwin-Williams’s payout ratio is 30.92%.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the transaction, the insider now directly owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the transaction, the insider now directly owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Todd D. Rea sold 2,449 shares of the stock in a transaction on Wednesday, February 21st. The stock was 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 $2,925,014.66. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock valued at $10,340,237 over the last three months. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sherwin-Williams

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Sherwin-Williams by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 21,435,960 shares of the specialty chemicals company’s stock valued at $6,685,876,000 after purchasing an additional 179,274 shares during the last quarter. FMR LLC grew its position in shares of Sherwin-Williams by 65.4% in the third quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company’s stock valued at $1,384,160,000 after purchasing an additional 2,146,102 shares during the last quarter. Morgan Stanley grew its position in shares of Sherwin-Williams by 50.9% in the fourth quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company’s stock valued at $1,229,386,000 after purchasing an additional 1,747,586 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Sherwin-Williams by 1.8% in the first quarter. Geode Capital Management LLC now owns 4,179,547 shares of the specialty chemicals company’s stock valued at $936,902,000 after purchasing an additional 73,605 shares during the last quarter. Finally, Capital World Investors lifted its stake in shares of Sherwin-Williams by 38.9% in the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after buying an additional 1,075,351 shares during the period. 77.67% of the stock is owned by institutional investors and hedge funds.

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.