The Sherwin-Williams Company (NYSE:SHW) Expected to Post Q3 2024 Earnings of $3.66 Per Share

The Sherwin-Williams Company (NYSE:SHW) – Analysts at KeyCorp issued their Q3 2024 earnings per share (EPS) estimates for Sherwin-Williams in a research report issued to clients and investors on Sunday, October 6th. KeyCorp analyst A. Yefremov forecasts that the specialty chemicals company will post earnings per share of $3.66 for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.47 per share. KeyCorp also issued estimates for Sherwin-Williams’ Q4 2024 earnings at $2.12 EPS, FY2024 earnings at $11.65 EPS, Q3 2025 earnings at $4.21 EPS, Q4 2025 earnings at $2.54 EPS and FY2025 earnings at $13.20 EPS.

Other research analysts have also recently issued research reports about the company. Morgan Stanley boosted their price target on Sherwin-Williams from $338.00 to $375.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com cut Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Jefferies Financial Group lifted their price target on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. BMO Capital Markets increased their price objective on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Finally, Robert W. Baird boosted their target price on shares of Sherwin-Williams from $310.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $370.39.

Sherwin-Williams Stock Performance

Sherwin-Williams stock opened at $373.40 on Wednesday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. The firm’s fifty day moving average price is $363.87 and its 200 day moving average price is $331.25. The company has a market capitalization of $94.68 billion, a price-to-earnings ratio of 39.81, a price-to-earnings-growth ratio of 2.97 and a beta of 1.17. Sherwin-Williams has a 12-month low of $232.06 and a 12-month high of $385.25.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.51 by $0.19. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.33 billion. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. Sherwin-Williams’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 EPS.

Sherwin-Williams Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.77%. Sherwin-Williams’s dividend payout ratio (DPR) is presently 30.49%.

Insider Activity at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at approximately $23,301,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sherwin-Williams

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHW. HHM Wealth Advisors LLC raised its stake in shares of Sherwin-Williams by 102.3% during the 2nd quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Semmax Financial Advisors Inc. raised its stake in shares of Sherwin-Williams by 136.4% in the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 60 shares in the last quarter. VitalStone Financial LLC boosted its stake in Sherwin-Williams by 233.3% during the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 77 shares in the last quarter. Anfield Capital Management LLC bought a new stake in Sherwin-Williams in the second quarter valued at about $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Sherwin-Williams during the first quarter valued at approximately $47,000. 77.67% of the stock is owned by institutional investors.

About Sherwin-Williams

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.