Seaport Res Ptn Has Negative Outlook of SHW FY2024 Earnings

The Sherwin-Williams Company (NYSE:SHW) – Analysts at Seaport Res Ptn cut their FY2024 earnings per share estimates for shares of Sherwin-Williams in a 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 previous estimate 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.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley boosted their target price on shares of Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Barclays boosted their price objective on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Zelman & Associates raised Sherwin-Williams to a “strong-buy” rating in a research report on Friday, January 17th. UBS Group reissued an “underperform” rating on shares of Sherwin-Williams in a research report on Friday, October 18th. Finally, Citigroup decreased their price objective on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $402.25.

Sherwin-Williams Trading Down 1.1 %

NYSE SHW opened at $357.44 on Thursday. The company has a market cap of $90.02 billion, a P/E ratio of 35.60, a P/E/G ratio of 2.79 and a beta of 1.22. Sherwin-Williams has a 12 month low of $282.09 and a 12 month high of $400.42. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.83 and a quick ratio of 0.51. The company has a 50-day moving average of $362.14 and a 200-day moving average of $361.13.

Sherwin-Williams (NYSE:SHW) last released its earnings results 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 business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $3.20 earnings per share.

Institutional Trading of Sherwin-Williams

Several institutional investors and hedge funds have recently bought and sold shares of SHW. FMR LLC increased its holdings in shares of Sherwin-Williams by 18.2% in the 3rd quarter. FMR LLC now owns 6,482,662 shares of the specialty chemicals company’s stock valued at $2,474,238,000 after acquiring an additional 999,164 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Sherwin-Williams by 40,317.4% in the third quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock worth $277,361,000 after purchasing an additional 724,907 shares during the period. Mizuho Securities USA LLC increased its stake in Sherwin-Williams by 1,717.9% during the third quarter. Mizuho Securities USA LLC now owns 326,903 shares of the specialty chemicals company’s stock valued at $124,769,000 after purchasing an additional 308,921 shares during the last quarter. Canoe Financial LP raised its holdings in shares of Sherwin-Williams by 542.0% during the fourth quarter. Canoe Financial LP now owns 339,707 shares of the specialty chemicals company’s stock worth $115,477,000 after purchasing an additional 286,791 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Sherwin-Williams by 18.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock worth $454,917,000 after buying an additional 238,031 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Insider Activity at Sherwin-Williams

In other news, SVP Mary L. Garceau sold 15,770 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $397.92, for a total value of $6,275,198.40. Following the completion of the sale, the senior vice president now owns 29,205 shares of the company’s stock, valued at approximately $11,621,253.60. The trade was a 35.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gregory P. Sofish sold 2,565 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $378.63, for a total transaction of $971,185.95. Following the transaction, the senior vice president now directly owns 6,329 shares in the company, valued at $2,396,349.27. The trade was a 28.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

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.