Sherwin-Williams Company (The) (SHW) Issues Earnings Results, Beats Expectations By $0.05 EPS
Sherwin-Williams Company (The) (NYSE:SHW) announced its quarterly earnings data on Tuesday. The specialty chemicals company reported $4.75 EPS for the quarter, topping the Zacks’ consensus estimate of $4.70 by $0.05, Bloomberg Earnings reports. The firm had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.45 billion. Sherwin-Williams Company (The) had a return on equity of 63.81% and a net margin of 9.14%. The company’s revenue was up 37.4% on a year-over-year basis. During the same period last year, the company earned $4.23 earnings per share. Sherwin-Williams Company (The) updated its Q4 guidance to $2.95-3.25 EPS.
Shares of Sherwin-Williams Company (NYSE:SHW) opened at 388.91 on Wednesday. The firm has a 50-day moving average price of $363.70 and a 200 day moving average price of $345.98. Sherwin-Williams Company has a 1-year low of $239.48 and a 1-year high of $394.10. The company has a market cap of $36.11 billion, a PE ratio of 32.06 and a beta of 1.22.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, November 16th. Sherwin-Williams Company (The)’s payout ratio is 28.05%.
A number of brokerages recently commented on SHW. Credit Suisse Group upgraded Sherwin-Williams Company (The) to a “buy” rating and set a $375.00 price objective for the company in a research report on Sunday, July 23rd. BidaskClub lowered Sherwin-Williams Company (The) from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 1st. Northcoast Research reiterated a “buy” rating and issued a $435.00 price objective (up from $375.00) on shares of Sherwin-Williams Company (The) in a research report on Friday, October 6th. Zacks Investment Research lowered Sherwin-Williams Company (The) from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, J P Morgan Chase & Co began coverage on Sherwin-Williams Company (The) in a research report on Monday, July 24th. They issued a “neutral” rating and a $365.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $392.88.
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About Sherwin-Williams Company (The)
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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