Sherwin-Williams (NYSE:SHW) Releases Earnings Results, Misses Expectations By $0.19 EPS

Sherwin-Williams (NYSE:SHW) released its quarterly earnings data on Tuesday. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.19), Yahoo Finance reports. The firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. Sherwin-Williams’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm posted $3.20 earnings per share. 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 Trading Down 0.1 %

NYSE:SHW opened at $361.05 on Friday. Sherwin-Williams has a 12-month low of $232.06 and a 12-month high of $392.57. The company has a current ratio of 0.83, a quick ratio of 0.50 and a debt-to-equity ratio of 1.97. The stock’s 50 day simple moving average is $371.81 and its 200-day simple moving average is $334.64. The firm has a market cap of $91.54 billion, a P/E ratio of 38.55, a PEG ratio of 2.87 and a beta of 1.17.

Sherwin-Williams Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.79%. Sherwin-Williams’s payout ratio is 30.49%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SHW. Redburn Atlantic raised Sherwin-Williams to a “strong-buy” rating in a research report on Thursday, July 18th. Morgan Stanley boosted their target price on Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Evercore ISI dropped their price target on shares of Sherwin-Williams from $410.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday. Barclays raised their price objective on shares of Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and a consensus price target of $395.29.

Insider Buying and Selling

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

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.