Q1 2024 EPS Estimates for The Sherwin-Williams Company Increased by Seaport Res Ptn (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW - Free Report) - Investment analysts at Seaport Res Ptn boosted their Q1 2024 earnings per share estimates for Sherwin-Williams in a research report issued to clients and investors on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will post earnings per share of $2.20 for the quarter, up from their prior forecast 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.

SHW has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on Sherwin-Williams from $285.00 to $317.00 and gave the stock an "overweight" rating in a report on Friday, January 26th. Argus raised their price target on Sherwin-Williams from $330.00 to $378.00 and gave the stock a "buy" rating in a report on Thursday, December 21st. Barclays raised their price target on Sherwin-Williams from $285.00 to $315.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. Evercore ISI lowered their price target on Sherwin-Williams from $385.00 to $380.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $300.00 price objective (up previously from $270.00) on shares of Sherwin-Williams in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $325.94.

Sherwin-Williams Stock Performance

Shares of SHW stock traded down $0.78 during mid-day trading on Thursday, hitting $309.38. 1,122,930 shares of the stock were exchanged, compared to its average volume of 1,400,176. The stock's fifty day simple moving average is $328.69 and its two-hundred day simple moving average is $296.92. The stock has a market capitalization of $78.72 billion, a price-to-earnings ratio of 33.36, a P/E/G ratio of 2.45 and a beta of 1.15. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.48 and a current ratio of 0.83.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.01. The company had revenue of $5.25 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 earnings per share.

Institutional Trading of Sherwin-Williams

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Sherwin-Williams by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,435,960 shares of the specialty chemicals company's stock valued at $6,685,876,000 after buying an additional 179,274 shares during the period. FMR LLC grew its stake in shares of Sherwin-Williams by 65.4% during the 3rd quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company's stock valued at $1,384,160,000 after buying an additional 2,146,102 shares during the period. Morgan Stanley grew its stake in shares of Sherwin-Williams by 50.9% during the 4th quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company's stock valued at $1,229,386,000 after buying an additional 1,747,586 shares during the period. Geode Capital Management LLC grew its stake in shares of Sherwin-Williams by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 4,179,547 shares of the specialty chemicals company's stock valued at $936,902,000 after buying an additional 73,605 shares during the period. Finally, Capital World Investors grew its stake in shares of Sherwin-Williams by 38.9% during the 4th quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company's stock valued at $1,197,952,000 after buying an additional 1,075,351 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 annualized dividend and a dividend yield of 0.92%. Sherwin-Williams's dividend payout ratio is currently 30.92%.

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.