Seaport Res Ptn Weighs in on The Sherwin-Williams Company’s Q2 2024 Earnings (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Stock analysts at Seaport Res Ptn cut their Q2 2024 earnings estimates for shares of Sherwin-Williams in a research note issued to investors on Tuesday, April 23rd. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will earn $3.44 per share for the quarter, down from their prior forecast of $3.51. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.44 per share. Seaport Res Ptn also issued estimates for Sherwin-Williams’ Q3 2024 earnings at $3.52 EPS, Q4 2024 earnings at $2.12 EPS, FY2024 earnings at $11.25 EPS, Q3 2025 earnings at $3.99 EPS and FY2025 earnings at $12.71 EPS.

SHW has been the topic of several other reports. StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Wolfe Research assumed coverage on Sherwin-Williams in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Evercore ISI dropped their price target on shares of Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Finally, Barclays lifted their target price on shares of Sherwin-Williams from $285.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $337.37.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $306.45 on Friday. Sherwin-Williams has a 1 year low of $221.76 and a 1 year high of $348.37. The stock has a market capitalization of $77.98 billion, a P/E ratio of 32.67, a P/E/G ratio of 2.41 and a beta of 1.15. The company’s 50-day moving average is $328.05 and its 200 day moving average is $299.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.48.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. Sherwin-Williams’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 earnings per share.

Institutional Investors Weigh In On Sherwin-Williams

Several large investors have recently made changes to their positions in SHW. First United Bank & Trust purchased a new stake in shares of Sherwin-Williams during the fourth quarter valued at $31,000. OFI Invest Asset Management bought a new position in Sherwin-Williams in the third quarter worth approximately $25,000. Tortoise Investment Management LLC raised its position in Sherwin-Williams by 158.5% during the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 65 shares in the last quarter. Union Savings Bank bought a new position in shares of Sherwin-Williams during the 3rd quarter worth $28,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Sherwin-Williams during the fourth quarter valued at $35,000. 77.67% of the stock is owned by institutional investors.

Insider Transactions at Sherwin-Williams

In other news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was 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 of the company’s stock, valued at $2,925,014.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Justin T. Binns sold 1,563 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the sale, the insider now owns 14,564 shares in the company, valued at $4,935,302.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the transaction, the insider now owns 9,329 shares of the company’s stock, valued at $2,925,014.66. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock worth $10,340,237 in the last 90 days. 0.60% of the stock is currently owned by insiders.

Sherwin-Williams Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $0.715 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.86 annualized dividend and a yield of 0.93%. Sherwin-Williams’s payout ratio is presently 30.49%.

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.