Sherwin-Williams (SHW) Set to Announce Quarterly Earnings on Tuesday

Sherwin-Williams (NYSE:SHW) is scheduled to be announcing its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $2.24 per share for the quarter. Sherwin-Williams has set its FY24 guidance at $10.85-11.35 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.01. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter last year, the business posted $1.89 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. On average, analysts expect Sherwin-Williams to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $305.96 on Friday. 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 12-month low of $221.76 and a 12-month high of $348.37. The stock has a 50-day moving average price of $328.52 and a 200 day moving average price of $297.71. The stock has a market capitalization of $77.85 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.45 and a beta of 1.15.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors 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 dividend yield of 0.93%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is currently 30.92%.

Insider Buying and Selling

In related news, SVP Gregory P. Sofish sold 1,830 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total transaction of $586,881.00. Following the completion of the sale, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gregory P. Sofish sold 1,830 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 of the company’s stock, valued at $2,029,710.30. The disclosure for this sale can be found here. In the last three months, insiders sold 32,050 shares of company stock valued at $10,340,237. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Aspect Partners LLC purchased a new position in Sherwin-Williams during the 4th quarter worth $25,000. Providence Capital Advisors LLC increased its holdings in Sherwin-Williams by 44,853.3% during the 1st quarter. Providence Capital Advisors LLC now owns 6,743 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 6,728 shares during the period. First Capital Advisors Group LLC. purchased a new position in Sherwin-Williams during the 2nd quarter worth $37,000. O Dell Group LLC purchased a new position in Sherwin-Williams during the 4th quarter worth $42,000. Finally, West Tower Group LLC purchased a new position in Sherwin-Williams during the 4th quarter worth $50,000. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SHW. Evercore ISI dropped their price target on Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Citigroup increased their price target on Sherwin-Williams from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Wolfe Research began coverage on Sherwin-Williams in a research note on Friday, March 1st. They set a “peer perform” rating for the company. Barclays increased their price target on Sherwin-Williams from $285.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Finally, StockNews.com raised Sherwin-Williams from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $325.94.

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.