Sherwin-Williams (NYSE:SHW) Posts Earnings Results, Misses Estimates By $0.05 EPS

Sherwin-Williams (NYSE:SHW) released its quarterly earnings data on Tuesday. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.05), Briefing.com reports. 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 in the prior year, the company earned $2.04 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Sherwin-Williams updated its FY24 guidance to $10.85-11.35 EPS and its FY 2024 guidance to 10.850-11.350 EPS.

Sherwin-Williams Price Performance

Shares of SHW opened at $303.74 on Thursday. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37. The business’s fifty day moving average is $328.26 and its 200 day moving average is $298.77. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. The stock has a market cap of $77.29 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.39 and a beta of 1.15.

Sherwin-Williams Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio is currently 30.49%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SHW shares. Loop Capital lowered their price objective on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday. Evercore ISI decreased their target price on shares of Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Barclays increased their target price on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $377.00 target price (down previously from $385.00) on shares of Sherwin-Williams in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $336.89.

Insider Buying and Selling

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction 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 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 document filed with the SEC, which is available through this hyperlink. In other Sherwin-Williams news, SVP Mary L. Garceau sold 23,518 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the transaction, the senior vice president now directly owns 28,475 shares in the company, valued at approximately $9,187,743.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of the firm’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 transaction, 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. Insiders have sold a total of 32,050 shares of company stock worth $10,340,237 in the last ninety days. 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.