The Sherwin-Williams Company Expected to Earn Q2 2024 Earnings of $3.44 Per Share (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW - Free Report) - Seaport Res Ptn dropped their Q2 2024 EPS estimates for shares of Sherwin-Williams in a report released on Tuesday, April 23rd. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will post earnings per share of $3.44 for the quarter, down from their previous forecast of $3.51. 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' Q3 2024 earnings at $3.52 EPS, Q4 2024 earnings at $2.12 EPS, FY2024 earnings at $11.25 EPS, Q3 2025 earnings at $3.99 EPS and FY2025 earnings at $12.71 EPS.

A number of other brokerages also recently issued reports on SHW. JPMorgan Chase & Co. decreased their price target on Sherwin-Williams from $317.00 to $315.00 and set an "overweight" rating for the company in a report on Wednesday. Loop Capital cut their target price on Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday. BMO Capital Markets reaffirmed an "outperform" rating and issued a $377.00 price target (down from $385.00) on shares of Sherwin-Williams in a report on Wednesday. Mizuho cut their price objective on shares of Sherwin-Williams from $340.00 to $334.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, StockNews.com downgraded shares of Sherwin-Williams from a "buy" rating to a "hold" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $337.37.

Sherwin-Williams Stock Up 0.5 %

Shares of Sherwin-Williams stock traded up $1.64 during trading on Friday, hitting $306.45. 1,365,463 shares of the stock were exchanged, compared to its average volume of 1,466,097. The stock has a market cap of $77.98 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15. The firm's 50-day moving average price is $328.05 and its 200 day moving average price is $299.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.48. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period last year, the business earned $2.04 EPS. The firm's revenue was down 1.4% compared to the same quarter last year.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $0.715 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a yield of 0.93%. Sherwin-Williams's payout ratio is 30.49%.

Insider Buying and Selling at Sherwin-Williams

In related news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction 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 transaction, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Justin T. Binns sold 1,563 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams 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 completion of the sale, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sherwin-Williams

Hedge funds and other institutional investors have recently modified their holdings of the stock. First United Bank & Trust purchased a new position in Sherwin-Williams during the 4th quarter valued at about $31,000. OFI Invest Asset Management acquired a new position in shares of Sherwin-Williams during the 3rd quarter worth approximately $25,000. Tortoise Investment Management LLC lifted its stake in Sherwin-Williams by 158.5% in the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company's stock valued at $33,000 after buying an additional 65 shares in the last quarter. Union Savings Bank acquired a new stake in Sherwin-Williams during the 3rd quarter valued at $28,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Sherwin-Williams during the fourth quarter worth $35,000. 77.67% of the stock is currently 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.