FY2022 EPS Estimates for The Sherwin-Williams Company Cut by Seaport Res Ptn (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW – Get Rating) – Equities research analysts at Seaport Res Ptn cut their FY2022 earnings per share (EPS) estimates for shares of Sherwin-Williams in a report released on Wednesday, January 18th. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will post earnings of $8.67 per share for the year, down from their previous forecast of $8.77. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $8.71 per share. Seaport Res Ptn also issued estimates for Sherwin-Williams’ Q2 2023 earnings at $3.07 EPS, Q3 2023 earnings at $3.23 EPS and FY2023 earnings at $10.44 EPS.

Sherwin-Williams (NYSE:SHW – Get Rating) last posted its earnings results on Tuesday, October 25th. The specialty chemicals company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.23. Sherwin-Williams had a return on equity of 90.50% and a net margin of 8.94%. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same period in the previous year, the business earned $2.09 earnings per share. Sherwin-Williams’s quarterly revenue was up 17.5% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Sherwin-Williams from $250.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, December 2nd. Bank of America cut their price objective on Sherwin-Williams from $280.00 to $257.00 in a research report on Tuesday, October 11th. The Goldman Sachs Group began coverage on Sherwin-Williams in a report on Thursday, October 13th. They set a “buy” rating and a $280.00 target price on the stock. Wells Fargo & Company cut their price target on Sherwin-Williams from $230.00 to $220.00 and set an “equal weight” rating for the company in a report on Monday, January 9th. Finally, Credit Suisse Group reduced their price objective on Sherwin-Williams to $210.00 in a research report on Thursday, October 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $266.22.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $245.31 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.00 and a debt-to-equity ratio of 3.69. The firm’s 50-day simple moving average is $243.77 and its 200 day simple moving average is $234.88. Sherwin-Williams has a 52 week low of $195.24 and a 52 week high of $301.85. The firm has a market capitalization of $63.57 billion, a PE ratio of 33.19, a P/E/G ratio of 1.93 and a beta of 1.08.

Institutional Trading of Sherwin-Williams

A number of institutional investors and hedge funds have recently made changes to their positions in SHW. Price T Rowe Associates Inc. MD raised its holdings in shares of Sherwin-Williams by 115.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,250,997 shares of the specialty chemicals company’s stock worth $2,295,301,000 after purchasing an additional 5,499,972 shares during the period. Clearbridge Investments LLC raised its holdings in Sherwin-Williams by 655.3% in the second quarter. Clearbridge Investments LLC now owns 2,143,815 shares of the specialty chemicals company’s stock valued at $480,022,000 after buying an additional 1,859,981 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Sherwin-Williams by 775.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 509,706 shares of the specialty chemicals company’s stock valued at $127,233,000 after buying an additional 451,493 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Sherwin-Williams by 99.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 859,123 shares of the specialty chemicals company’s stock worth $175,905,000 after buying an additional 427,561 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Sherwin-Williams by 523.4% in the third quarter. Two Sigma Investments LP now owns 485,483 shares of the specialty chemicals company’s stock worth $99,403,000 after acquiring an additional 407,609 shares in the last quarter. 76.03% of the stock is currently owned by institutional investors and hedge funds.

Sherwin-Williams Company Profile

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The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.