Sherwin-Williams Company Hits New 12-Month High at $217.53 (SHW)
Sherwin-Williams Company (NYSE:SHW)’s share price reached a new 52-week high during trading on Thursday , Analyst Ratings News reports. The stock traded as high as $217.53 and last traded at $217.10, with a volume of 196,620 shares trading hands. The stock had previously closed at $215.04.
A number of analysts have recently weighed in on SHW shares. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Sherwin-Williams Company in a research note on Wednesday, July 23rd. They now have a $219.00 price target on the stock, up previously from $211.00. Separately, analysts at Susquehanna raised their price target on shares of Sherwin-Williams Company from $232.00 to $240.00 in a research note on Wednesday, July 23rd. They now have a “neutral” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Sherwin-Williams Company in a research note on Monday, July 21st. They now have a $223.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $216.18.
The stock has a 50-day moving average of $208.8 and a 200-day moving average of $201.0. The company has a market cap of $20.986 billion and a price-to-earnings ratio of 27.76. Sherwin-Williams Company also was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 3,456,577 shares, a growth of 119.7% from the July 15th total of 1,573,562 shares. Based on an average daily trading volume, of 707,822 shares, the days-to-cover ratio is presently 4.9 days. Approximately 3.6% of the shares of the stock are sold short.
Sherwin-Williams Company (NYSE:SHW) last released its earnings data on Thursday, July 17th. The company reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.01. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the company posted $2.54 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts expect that Sherwin-Williams Company will post $8.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 5th. Investors of record on Friday, August 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, August 13th.
The Sherwin-Williams Company (NYSE:SHW) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America with additional operations in the Caribbean region, Europe and Asia.
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