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

Sherwin-Williams (NYSE:SHW) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $2.24 per share for the quarter. Sherwin-Williams has set its FY24 guidance at $10.85-11.35 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.01. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 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 Trading Down 1.3 %

Shares of SHW stock opened at $313.97 on Tuesday. The company has a debt-to-equity ratio of 2.25, a current ratio of 0.83 and a quick ratio of 0.48. Sherwin-Williams has a 1-year low of $221.76 and a 1-year high of $348.37. The company has a market cap of $79.89 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.52 and a beta of 1.15. The stock has a 50 day simple moving average of $328.68 and a 200-day simple moving average of $296.45.

Sherwin-Williams Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 26th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.91%. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.61. The ex-dividend date was Friday, February 23rd. Sherwin-Williams’s payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

SHW has been the subject of several research reports. Citigroup boosted their price target on Sherwin-Williams from $360.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Barclays boosted their price target on Sherwin-Williams from $285.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Evercore ISI boosted their price target on Sherwin-Williams from $370.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Mizuho dropped their target price on Sherwin-Williams from $352.00 to $340.00 and set a “buy” rating for the company in a report on Friday, January 26th. Finally, Wolfe Research assumed coverage on Sherwin-Williams in a report on Friday, March 1st. They issued a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.50.

Insider Buying and Selling

In related news, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the sale, the insider now directly owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the transaction, the insider now directly 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 is accessible through this hyperlink. Also, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the transaction, the insider now directly owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sherwin-Williams

Institutional investors have recently bought and sold shares of the company. Fortis Capital Advisors LLC acquired a new position in Sherwin-Williams in the 4th quarter valued at about $197,000. LM Advisors LLC purchased a new position in shares of Sherwin-Williams in the 4th quarter valued at about $156,000. Milestone Investment Advisors LLC purchased a new position in shares of Sherwin-Williams in the 1st quarter valued at about $141,000. Zions Bancorporation N.A. boosted its stake in shares of Sherwin-Williams by 25.3% in the 1st quarter. Zions Bancorporation N.A. now owns 471 shares of the specialty chemicals company’s stock valued at $118,000 after buying an additional 95 shares during the period. Finally, Tyler Stone Wealth Management purchased a new position in shares of Sherwin-Williams in the 2nd quarter valued at about $109,000. 77.67% of the stock is owned by institutional investors and hedge funds.

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.