Analysts Offer Predictions for The Sherwin-Williams Company’s Q2 2024 Earnings (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Stock analysts at KeyCorp issued their Q2 2024 EPS estimates for Sherwin-Williams in a research report issued on Wednesday, April 24th. KeyCorp analyst A. Yefremov expects that the specialty chemicals company will earn $3.48 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $400.00 price objective on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.43 per share. KeyCorp also issued estimates for Sherwin-Williams’ Q3 2024 earnings at $3.70 EPS, Q4 2024 earnings at $2.23 EPS, FY2024 earnings at $11.58 EPS and FY2025 earnings at $13.44 EPS.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 EPS.

SHW has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Mizuho lowered their price target on Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Seaport Res Ptn lowered Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Wolfe Research initiated coverage on Sherwin-Williams in a research note on Friday, March 1st. They set a “peer perform” rating for the company. Finally, Barclays lifted their price target on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $341.39.

Sherwin-Williams Stock Down 0.1 %

Shares of SHW opened at $306.09 on Monday. The stock’s 50-day moving average price is $327.99 and its 200-day moving average price is $300.22. The company has a quick ratio of 0.46, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $77.89 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.46 and a beta of 1.15. Sherwin-Williams has a 52 week low of $221.76 and a 52 week high of $348.37.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 annualized dividend and a yield of 0.93%. Sherwin-Williams’s payout ratio is 30.49%.

Insider Activity

In other news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, the insider now owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction dated 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 can be accessed through the SEC website. Also, insider Justin T. Binns sold 1,563 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the transaction, the insider now directly owns 14,564 shares in the company, valued at approximately $4,935,302.68. The disclosure for this sale can be found here. Insiders sold a total of 32,050 shares of company stock valued at $10,340,237 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Sherwin-Williams

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHW. Norges Bank purchased a new stake in shares of Sherwin-Williams in the 4th quarter valued at $1,176,356,000. FMR LLC increased its stake in Sherwin-Williams by 65.4% during the third quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company’s stock worth $1,384,160,000 after purchasing an additional 2,146,102 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth about $432,737,000. Capital World Investors grew its holdings 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 purchasing an additional 1,075,351 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Sherwin-Williams by 2,853.9% in the fourth quarter. International Assets Investment Management LLC now owns 650,186 shares of the specialty chemicals company’s stock valued at $202,793,000 after purchasing an additional 628,175 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

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.