Q3 2024 Earnings Forecast for The Sherwin-Williams Company Issued By Seaport Res Ptn (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Analysts at Seaport Res Ptn cut their Q3 2024 EPS estimates for Sherwin-Williams in a research report issued on Wednesday, July 24th. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $3.50 per share for the quarter, down from their prior estimate of $3.52. The consensus estimate for Sherwin-Williams’ current full-year earnings is $11.38 per share. Seaport Res Ptn also issued estimates for Sherwin-Williams’ Q4 2024 earnings at $1.99 EPS, FY2024 earnings at $11.37 EPS, Q1 2025 earnings at $2.34 EPS, Q2 2025 earnings at $4.01 EPS, Q3 2025 earnings at $3.97 EPS, Q4 2025 earnings at $2.33 EPS and FY2025 earnings at $12.66 EPS.

A number of other equities analysts also recently weighed in on SHW. The Goldman Sachs Group upped their price target on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho reduced their target price on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. StockNews.com lowered shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. KeyCorp increased their price objective on shares of Sherwin-Williams from $400.00 to $410.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Evercore ISI lifted their target price on Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.00.

Sherwin-Williams Stock Up 3.3 %

NYSE:SHW opened at $342.95 on Friday. The stock has a 50-day simple moving average of $306.52 and a 200 day simple moving average of $314.39. Sherwin-Williams has a 52-week low of $232.06 and a 52-week high of $348.37. The company has a market cap of $86.51 billion, a PE ratio of 36.56, a PEG ratio of 2.79 and a beta of 1.16. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.46 and a current ratio of 0.81.

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

Institutional Trading of Sherwin-Williams

Institutional investors have recently added to or reduced their stakes in the company. AIA Group Ltd boosted its position in shares of Sherwin-Williams by 20.8% in the fourth quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock valued at $5,088,000 after acquiring an additional 2,810 shares during the period. Simplicity Solutions LLC raised its position in shares of Sherwin-Williams by 182.2% in the fourth quarter. Simplicity Solutions LLC now owns 10,700 shares of the specialty chemicals company’s stock valued at $3,337,000 after buying an additional 6,909 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Sherwin-Williams by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261,178 shares of the specialty chemicals company’s stock valued at $77,510,000 after buying an additional 13,984 shares during the period. Waterloo Capital L.P. acquired a new stake in Sherwin-Williams during the fourth quarter worth approximately $360,000. Finally, Trust Point Inc. bought a new position in Sherwin-Williams during the 4th quarter worth $403,000. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 0.83%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 30.49%.

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.