The Sherwin-Williams Company (NYSE:SHW) Forecasted to Earn Q3 2024 Earnings of $3.66 Per Share

The Sherwin-Williams Company (NYSE:SHW) – Equities researchers at KeyCorp issued their Q3 2024 earnings per share estimates for shares of Sherwin-Williams in a report released on Sunday, October 6th. KeyCorp analyst A. Yefremov forecasts that the specialty chemicals company will earn $3.66 per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.47 per share. KeyCorp also issued estimates for Sherwin-Williams’ Q4 2024 earnings at $2.12 EPS, FY2024 earnings at $11.65 EPS, Q3 2025 earnings at $4.21 EPS, Q4 2025 earnings at $2.54 EPS and FY2025 earnings at $13.20 EPS.

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

SHW has been the subject of a number of other research reports. BMO Capital Markets raised their price objective on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Evercore ISI raised their price target on Sherwin-Williams from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group upped their price objective on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company raised their target price on shares of Sherwin-Williams from $320.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Barclays upped their price target on shares of Sherwin-Williams from $315.00 to $355.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.39.

Sherwin-Williams Stock Performance

Shares of NYSE SHW opened at $378.96 on Wednesday. The company has a market cap of $95.60 billion, a P/E ratio of 40.26, a P/E/G ratio of 2.92 and a beta of 1.17. Sherwin-Williams has a 52-week low of $232.06 and a 52-week high of $385.25. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81. The firm’s fifty day moving average is $364.30 and its two-hundred day moving average is $331.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC lifted its stake in shares of Sherwin-Williams by 7.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock worth $787,000 after purchasing an additional 193 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Sherwin-Williams by 7.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,533 shares of the specialty chemicals company’s stock valued at $532,000 after buying an additional 103 shares in the last quarter. Brevan Howard Capital Management LP grew its position in shares of Sherwin-Williams by 259.1% in the 4th quarter. Brevan Howard Capital Management LP now owns 6,998 shares of the specialty chemicals company’s stock worth $2,183,000 after buying an additional 5,049 shares during the last quarter. Transcend Capital Advisors LLC raised its stake in shares of Sherwin-Williams by 24.1% during the 2nd quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock worth $2,329,000 after acquiring an additional 1,514 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in Sherwin-Williams by 11.6% during the first quarter. Park Avenue Securities LLC now owns 4,331 shares of the specialty chemicals company’s stock valued at $1,504,000 after acquiring an additional 449 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction on Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $23,301,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Dividend Announcement

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

Sherwin-Williams Company Profile

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.