Q1 2024 EPS Estimates for The Sherwin-Williams Company Boosted by Seaport Res Ptn (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Stock analysts at Seaport Res Ptn increased their Q1 2024 EPS estimates for Sherwin-Williams in a research report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $2.20 per share for the quarter, up from their prior estimate of $2.15. 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’ Q4 2024 earnings at $2.13 EPS and FY2024 earnings at $11.37 EPS.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.01. Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Sherwin-Williams’s revenue for the quarter was up .4% on a year-over-year basis.

Several other brokerages also recently weighed in on SHW. Wells Fargo & Company increased their target price on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Northcoast Research raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 price target for the company in a report on Tuesday, February 27th. Citigroup increased their price target on shares of Sherwin-Williams from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Mizuho cut their price target on shares of Sherwin-Williams from $352.00 to $340.00 and set a “buy” rating for the company in a report on Friday, January 26th. Finally, StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $325.94.

Sherwin-Williams Price Performance

Shares of SHW opened at $309.38 on Thursday. Sherwin-Williams has a fifty-two week low of $221.76 and a fifty-two week high of $348.37. The company has a market capitalization of $78.72 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 2.45 and a beta of 1.15. The firm has a 50-day simple moving average of $328.64 and a 200-day simple moving average of $297.00. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.48 and a current ratio of 0.83.

Sherwin-Williams Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $0.715 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.92%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.92%.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams 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 approximately $2,925,014.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams 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 approximately $2,925,014.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mary L. Garceau sold 23,518 shares of Sherwin-Williams stock in a transaction on Monday, February 26th. The shares were sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the completion of the transaction, the senior vice president now owns 28,475 shares in the company, valued at approximately $9,187,743.50. 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 quarter. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Sherwin-Williams

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Sherwin-Williams by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,435,960 shares of the specialty chemicals company’s stock worth $6,685,876,000 after buying an additional 179,274 shares during the period. FMR LLC increased its stake in Sherwin-Williams by 65.4% during the 3rd quarter. FMR LLC now owns 5,427,014 shares of the specialty chemicals company’s stock worth $1,384,160,000 after buying an additional 2,146,102 shares during the period. Morgan Stanley increased its stake in Sherwin-Williams by 50.9% during the 4th quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company’s stock worth $1,229,386,000 after buying an additional 1,747,586 shares during the period. Geode Capital Management LLC increased its stake in Sherwin-Williams by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 4,179,547 shares of the specialty chemicals company’s stock worth $936,902,000 after buying an additional 73,605 shares during the period. Finally, Capital World Investors increased its stake in Sherwin-Williams by 38.9% during the 4th quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock worth $1,197,952,000 after buying an additional 1,075,351 shares during the period. Hedge funds and other institutional investors own 77.67% 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.