Seaport Res Ptn Predicts Lower Earnings for Sherwin-Williams

The Sherwin-Williams Company (NYSE:SHW) – Seaport Res Ptn decreased their FY2024 earnings estimates for shares of Sherwin-Williams in a research note issued to investors on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will post earnings of $11.26 per share for the year, down from their prior forecast of $11.29. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.32 per share. Seaport Res Ptn also issued estimates for Sherwin-Williams’ Q4 2024 earnings at $2.02 EPS, Q1 2025 earnings at $2.22 EPS, Q3 2025 earnings at $3.78 EPS, FY2025 earnings at $12.28 EPS and FY2026 earnings at $13.76 EPS.

Several other research firms have also commented on SHW. BMO Capital Markets lifted their price objective on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lifted their price target on shares of Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Morgan Stanley boosted their target price on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Mizuho reduced their price target on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $402.25.

Sherwin-Williams Price Performance

Shares of Sherwin-Williams stock opened at $361.28 on Thursday. The stock has a 50 day moving average price of $362.14 and a 200-day moving average price of $361.13. Sherwin-Williams has a one year low of $282.09 and a one year high of $400.42. The stock has a market cap of $90.99 billion, a price-to-earnings ratio of 35.98, a price-to-earnings-growth ratio of 2.79 and a beta of 1.22. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.19). The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.20 earnings per share.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SHW. FMR LLC increased its position in shares of Sherwin-Williams by 18.2% during the third quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company’s stock worth $2,474,238,000 after purchasing an additional 999,164 shares in the last quarter. Geode Capital Management LLC increased its position in Sherwin-Williams by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,733,131 shares of the specialty chemicals company’s stock valued at $1,799,196,000 after buying an additional 58,463 shares in the last quarter. Legal & General Group Plc increased its position in Sherwin-Williams by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock valued at $573,538,000 after buying an additional 53,487 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in Sherwin-Williams by 18.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock valued at $454,917,000 after buying an additional 238,031 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Sherwin-Williams by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,421,090 shares of the specialty chemicals company’s stock worth $542,387,000 after acquiring an additional 15,843 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, SVP Gregory P. Sofish sold 2,565 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the completion of the transaction, the senior vice president now directly owns 6,329 shares in the company, valued at approximately $2,396,349.27. The trade was a 28.84 % decrease in their ownership of the stock. 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 15,770 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the completion of the sale, the senior vice president now owns 29,205 shares in the company, valued at $11,621,253.60. This represents a 35.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

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.