Sherwin-Williams (NYSE:SHW) Releases Quarterly Earnings Results

Sherwin-Williams (NYSE:SHW) released its quarterly earnings results on Tuesday. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.19), Yahoo Finance reports. The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $3.20 EPS. Sherwin-Williams updated its FY 2024 guidance to 11.100-11.400 EPS and its FY24 guidance to $11.10-11.40 EPS.

Sherwin-Williams Price Performance

Shares of SHW stock opened at $361.59 on Friday. The stock has a market cap of $91.68 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 2.87 and a beta of 1.17. The business’s fifty day moving average is $371.81 and its 200 day moving average is $334.64. Sherwin-Williams has a twelve month low of $232.06 and a twelve month high of $392.57. The company has a quick ratio of 0.50, a current ratio of 0.83 and a debt-to-equity ratio of 1.97.

Sherwin-Williams Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $0.715 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.86 annualized dividend and a yield of 0.79%. Sherwin-Williams’s payout ratio is 30.49%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SHW. Wells Fargo & Company raised their price objective on Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Redburn Atlantic raised Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. StockNews.com raised Sherwin-Williams from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada decreased their price target on Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Sherwin-Williams in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $395.29.

Insider Buying and Selling

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $366.83, for a total value of $5,326,371.60. Following the sale, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

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.