The Sherwin-Williams Company (NYSE:SHW) to Post Q1 2024 Earnings of $2.20 Per Share, Seaport Res Ptn Forecasts

The Sherwin-Williams Company (NYSE:SHW) – Analysts at Seaport Res Ptn raised their Q1 2024 EPS estimates for Sherwin-Williams in a research note issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will post earnings per share of $2.20 for the quarter, up from their prior estimate of $2.15. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.44 per share. Seaport Res Ptn also issued estimates for Sherwin-Williams’ Q4 2024 earnings at $2.13 EPS and FY2024 earnings at $11.37 EPS.

A number of other research firms have also weighed in on SHW. Barclays raised their price objective on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Evercore ISI dropped their price target on shares of Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating on the stock in a research report on Tuesday. Robert W. Baird reissued a “neutral” rating and set a $300.00 price target (up from $270.00) on shares of Sherwin-Williams in a research report on Wednesday, January 3rd. Argus raised their price target on shares of Sherwin-Williams from $330.00 to $378.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Finally, Royal Bank of Canada dropped their price target on shares of Sherwin-Williams from $346.00 to $341.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and a consensus target price of $325.94.

Sherwin-Williams Stock Up 0.6 %

Sherwin-Williams stock opened at $310.16 on Thursday. Sherwin-Williams has a 1-year low of $221.76 and a 1-year high of $348.37. The firm has a market capitalization of $78.92 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 2.45 and a beta of 1.15. The firm’s fifty day moving average price is $328.69 and its two-hundred day moving average price is $296.92. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 2.25.

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

Institutional Trading of Sherwin-Williams

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Hawaiian Bank increased its holdings in Sherwin-Williams by 0.5% during the 4th quarter. First Hawaiian Bank now owns 7,559 shares of the specialty chemicals company’s stock worth $2,358,000 after acquiring an additional 34 shares during the period. Tsfg LLC increased its holdings in Sherwin-Williams by 4.7% during the 4th quarter. Tsfg LLC now owns 754 shares of the specialty chemicals company’s stock worth $235,000 after acquiring an additional 34 shares during the period. Manchester Capital Management LLC increased its holdings in Sherwin-Williams by 5.5% during the 4th quarter. Manchester Capital Management LLC now owns 666 shares of the specialty chemicals company’s stock worth $208,000 after acquiring an additional 35 shares during the period. Tealwood Asset Management Inc. increased its holdings in shares of Sherwin-Williams by 0.7% in the 1st quarter. Tealwood Asset Management Inc. now owns 4,913 shares of the specialty chemicals company’s stock worth $1,706,000 after buying an additional 35 shares during the last quarter. Finally, Ellsworth Advisors LLC increased its holdings in shares of Sherwin-Williams by 0.9% in the 4th quarter. Ellsworth Advisors LLC now owns 4,108 shares of the specialty chemicals company’s stock worth $1,281,000 after buying an additional 36 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

Insider Activity

In other news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the sale, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the sale, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total transaction of $586,881.00. Following the sale, the senior vice president now directly owns 6,329 shares in the company, valued at approximately $2,029,710.30. The disclosure for this sale can be found here. Insiders have sold a total of 32,050 shares of company stock valued at $10,340,237 over the last quarter. Company insiders own 0.60% of the company’s stock.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.92%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.92%.

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.