The Sherwin-Williams Company (NYSE:SHW) to Post Q2 2024 Earnings of $3.48 Per Share, KeyCorp Forecasts

The Sherwin-Williams Company (NYSE:SHW) – Equities research analysts at KeyCorp issued their Q2 2024 EPS estimates for Sherwin-Williams in a research note issued to investors on Wednesday, April 24th. KeyCorp analyst A. Yefremov forecasts that the specialty chemicals company will post earnings per share of $3.48 for the quarter. KeyCorp has a “Overweight” rating and a $400.00 price objective on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.43 per share. KeyCorp also issued estimates for Sherwin-Williams’ Q3 2024 earnings at $3.70 EPS, Q4 2024 earnings at $2.23 EPS, FY2024 earnings at $11.58 EPS and FY2025 earnings at $13.44 EPS.

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

A number of other research firms also recently weighed in on SHW. Loop Capital decreased their price objective on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their target price on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. UBS Group upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and increased their target price for the company from $312.00 to $402.00 in a report on Thursday, March 7th. Mizuho reduced their price objective on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Finally, Wolfe Research started coverage on Sherwin-Williams in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $341.39.

Sherwin-Williams Stock Performance

Sherwin-Williams stock opened at $299.60 on Monday. The business’s 50-day moving average price is $327.76 and its two-hundred day moving average price is $300.59. The stock has a market cap of $76.24 billion, a PE ratio of 31.94, a P/E/G ratio of 2.46 and a beta of 1.15. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37. The company has a quick ratio of 0.46, a current ratio of 0.78 and a debt-to-equity ratio of 2.32.

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 paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Insider Transactions at Sherwin-Williams

In other news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the transaction, 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 SEC, which can be accessed through this link. In related news, SVP Mary L. Garceau sold 23,518 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the transaction, the senior vice president now owns 28,475 shares in the company, valued at approximately $9,187,743.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Justin T. Binns sold 1,563 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the completion of the sale, the insider now owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Sherwin-Williams

Several large investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank boosted its holdings in Sherwin-Williams by 0.5% in the fourth quarter. First Hawaiian Bank now owns 7,559 shares of the specialty chemicals company’s stock worth $2,358,000 after acquiring an additional 34 shares in the last quarter. Tsfg LLC lifted its holdings in shares of Sherwin-Williams by 4.7% during the fourth quarter. Tsfg LLC now owns 754 shares of the specialty chemicals company’s stock valued at $235,000 after purchasing an additional 34 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Sherwin-Williams by 5.5% during the fourth quarter. Manchester Capital Management LLC now owns 666 shares of the specialty chemicals company’s stock valued at $208,000 after buying an additional 35 shares during the last quarter. Tealwood Asset Management Inc. increased its holdings in Sherwin-Williams by 0.7% in the 1st quarter. Tealwood Asset Management Inc. now owns 4,913 shares of the specialty chemicals company’s stock worth $1,706,000 after buying an additional 35 shares in the last quarter. Finally, Ellsworth Advisors LLC raised its position in Sherwin-Williams by 0.9% in the 4th quarter. Ellsworth Advisors LLC now owns 4,108 shares of the specialty chemicals company’s stock worth $1,281,000 after buying an additional 36 shares during the last quarter. 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.