Sherwin-Williams Co (SHW) Releases Q2 Earnings Guidance
Sherwin-Williams Co (NYSE:SHW) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.40-4.60 for the period, compared to the Thomson Reuters consensus estimate of $4.44. Sherwin-Williams also updated its FY17 guidance to $14.05-14.25 EPS.
Sherwin-Williams Co (NYSE:SHW) opened at 311.54 on Thursday. The firm’s 50-day moving average is $311.04 and its 200-day moving average is $285.89. Sherwin-Williams Co has a 52 week low of $239.48 and a 52 week high of $316.66. The stock has a market capitalization of $28.82 billion, a P/E ratio of 25.98 and a beta of 1.00.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Thursday, April 20th. The specialty chemicals company reported $2.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.08 by $0.19. Sherwin-Williams had a net margin of 9.40% and a return on equity of 82.20%. The company earned $2.76 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter last year, the company earned $1.81 earnings per share. Sherwin-Williams’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts predict that Sherwin-Williams Co will post $13.71 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.09%. Sherwin-Williams’s dividend payout ratio (DPR) is 28.50%.
Several brokerages have issued reports on SHW. Vetr downgraded shares of Sherwin-Williams from a buy rating to a hold rating and set a $313.74 price objective for the company. in a research report on Thursday, January 26th. Zacks Investment Research downgraded shares of Sherwin-Williams from a buy rating to a hold rating in a research report on Monday, February 6th. KeyCorp raised shares of Sherwin-Williams from a sector weight rating to an overweight rating and set a $375.00 price target for the company in a research report on Tuesday, April 4th. Longbow Research downgraded shares of Sherwin-Williams from a buy rating to a neutral rating in a research report on Thursday, January 5th. Finally, Royal Bank of Canada reissued a buy rating and set a $315.00 price target on shares of Sherwin-Williams in a research report on Wednesday, January 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. Sherwin-Williams presently has a consensus rating of Buy and an average target price of $333.70.
In other Sherwin-Williams news, SVP Robert J. Wells sold 4,353 shares of the firm’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $311.21, for a total value of $1,354,697.13. Following the sale, the senior vice president now directly owns 23,158 shares in the company, valued at $7,207,001.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David F. Hodnik sold 1,066 shares of the firm’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $305.42, for a total value of $325,577.72. Following the completion of the sale, the director now owns 10,229 shares in the company, valued at $3,124,141.18. The disclosure for this sale can be found here. Insiders sold 130,788 shares of company stock worth $39,898,020 over the last quarter. 1.89% of the stock is currently owned by company insiders.
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Sherwin-Williams Company Profile
The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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