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

Sherwin-Williams (NYSE:SHW) is scheduled to post its quarterly earnings results before the market opens on Monday, September 30th. Analysts expect Sherwin-Williams to post earnings of $3.48 per share for the quarter. Sherwin-Williams has set its FY24 guidance at $11.10-11.40 EPS and its FY 2024 guidance at 11.100-11.400 EPS.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.29 EPS. 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 Down 0.3 %

NYSE:SHW opened at $382.73 on Friday. The firm has a market capitalization of $96.55 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. Sherwin-Williams has a twelve month low of $232.06 and a twelve month high of $385.25. The stock’s 50 day moving average price is $359.69 and its two-hundred day moving average price is $329.73. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, August 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 30.49%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays boosted their target price on Sherwin-Williams from $315.00 to $355.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Royal Bank of Canada reissued an “outperform” rating and set a $418.00 target price on shares of Sherwin-Williams in a report on Friday, August 30th. The Goldman Sachs Group boosted their target price on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. KeyCorp boosted their target price on Sherwin-Williams from $400.00 to $410.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley boosted their target price on Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $362.68.

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the sale, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.60% 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.