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

Sherwin-Williams (NYSE:SHW - Get Free Report) will 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 wish to register for the company's conference call can do so using this link.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.80 by $0.01. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the prior year, the firm earned $1.89 EPS. The company's revenue was up .4% compared to the same quarter last year. 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 Stock Performance

Shares of Sherwin-Williams stock traded down $5.62 on Tuesday, reaching $308.35. 1,440,697 shares of the company traded hands, compared to its average volume of 1,402,189. Sherwin-Williams has a 52 week low of $221.76 and a 52 week high of $348.37. The company has a 50 day moving average of $328.68 and a 200 day moving average of $296.45. The firm has a market capitalization of $78.46 billion, a PE ratio of 33.46, a PEG ratio of 2.52 and a beta of 1.15. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 26th were given a dividend of $0.715 per share. This is an increase from Sherwin-Williams's previous quarterly dividend of $0.61. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Friday, February 23rd. Sherwin-Williams's dividend payout ratio is currently 30.92%.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the business's 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 completion of the sale, the insider now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the business's stock in a transaction dated 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 owns 9,329 shares in the company, valued at $2,925,014.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karl J. Jorgenrud sold 2,690 shares of the business's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $322.50, for a total transaction of $867,525.00. Following the completion of the transaction, the insider now owns 12,941 shares in the company, valued at approximately $4,173,472.50. The disclosure for this sale can be found here. Insiders sold 32,050 shares of company stock valued at $10,340,237 over the last three months. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Sherwin-Williams

Hedge funds have recently modified their holdings of the company. Aspect Partners LLC purchased a new position in shares of Sherwin-Williams in the fourth quarter valued at about $25,000. O Dell Group LLC purchased a new position in shares of Sherwin-Williams during the fourth quarter valued at about $42,000. First Capital Advisors Group LLC. purchased a new position in shares of Sherwin-Williams during the second quarter valued at about $37,000. West Tower Group LLC purchased a new position in shares of Sherwin-Williams during the fourth quarter valued at about $50,000. Finally, First Manhattan Co. increased its position in shares of Sherwin-Williams by 82.6% during the fourth quarter. First Manhattan Co. now owns 241 shares of the specialty chemicals company's stock valued at $57,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 77.67% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SHW. Northcoast Research raised shares of Sherwin-Williams from a "neutral" rating to a "buy" rating and set a $360.00 price objective for the company in a report on Tuesday, February 27th. JPMorgan Chase & Co. raised their price objective on shares of Sherwin-Williams from $285.00 to $317.00 and gave the stock an "overweight" rating in a report on Friday, January 26th. Evercore ISI cut their price objective on shares of Sherwin-Williams from $385.00 to $380.00 and set an "outperform" rating for the company in a report on Tuesday. Wolfe Research began coverage on shares of Sherwin-Williams in a report on Friday, March 1st. They issued a "peer perform" rating for the company. Finally, Barclays raised their price objective on shares of Sherwin-Williams from $285.00 to $315.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $325.94.

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.