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

Sherwin-Williams (NYSE:SHW) will issue its quarterly earnings data before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $3.55 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.Parties interested in participating in the company’s conference call can do so using this link.

Sherwin-Williams (NYSE:SHW) last announced 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 business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. Sherwin-Williams’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.29 earnings per share. On average, analysts expect Sherwin-Williams to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Sherwin-Williams Trading Down 0.2 %

Shares of SHW opened at $388.36 on Friday. The business’s 50-day moving average price is $370.58 and its 200 day moving average price is $333.88. The company has a current ratio of 0.81, a quick ratio of 0.50 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $97.97 billion, a P/E ratio of 39.59, a P/E/G ratio of 3.01 and a beta of 1.17. Sherwin-Williams has a 1-year low of $232.06 and a 1-year high of $392.57.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Friday, November 15th. Sherwin-Williams’s dividend payout ratio (DPR) is currently 29.15%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SHW. StockNews.com downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Robert W. Baird raised their target price on Sherwin-Williams from $310.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Barclays lifted their price target on Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $418.00 target price on shares of Sherwin-Williams in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $383.35.

Insider Buying and Selling at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.