Sherwin-Williams (NYSE:SHW) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Sherwin-Williams (NYSE:SHW) issued its earnings results on Tuesday. The specialty chemicals company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.05), Briefing.com reports. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same period in the previous year, the firm earned $2.04 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Sherwin-Williams updated its FY24 guidance to $10.85-11.35 EPS and its FY 2024 guidance to 10.850-11.350 EPS.

Sherwin-Williams Price Performance

Shares of NYSE:SHW opened at $302.34 on Wednesday. Sherwin-Williams has a fifty-two week low of $221.76 and a fifty-two week high of $348.37. The business has a 50-day simple moving average of $328.40 and a two-hundred day simple moving average of $298.73. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.48 and a current ratio of 0.83. The firm has a market cap of $76.93 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 2.45 and a beta of 1.15.

Sherwin-Williams Announces Dividend

The firm also recently announced 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. This represents a $2.86 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

SHW has been the topic of several recent analyst reports. Northcoast Research upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 price target on the stock in a report on Tuesday, February 27th. Citigroup lifted their price target on shares of Sherwin-Williams from $360.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. StockNews.com upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Friday, March 8th. JPMorgan Chase & Co. lifted their price target on shares of Sherwin-Williams from $285.00 to $317.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Finally, Seaport Res Ptn cut shares of Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.94.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the business’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 completion of the transaction, the insider now owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Mary L. Garceau sold 23,518 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 28,475 shares of the company’s stock, valued at approximately $9,187,743.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, the insider now directly owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is owned by insiders.

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.