The Sherwin-Williams (NYSE:SHW) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

The Sherwin-Williams (NYSE:SHW) posted its earnings results on Monday. The specialty chemicals company reported $2.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.02, MarketWatch Earnings reports. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.09 billion. The Sherwin-Williams had a return on equity of 72.71% and a net margin of 11.05%. The Sherwin-Williams’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.76 earnings per share.

Shares of SHW stock traded up $2.68 on Wednesday, hitting $318.70. The stock had a trading volume of 23,661 shares, compared to its average volume of 1,250,330. The stock’s 50 day moving average is $297.19 and its 200-day moving average is $284.42. The firm has a market capitalization of $83.91 billion, a price-to-earnings ratio of 39.65, a P/E/G ratio of 2.60 and a beta of 1.08. The Sherwin-Williams has a 52-week low of $218.06 and a 52-week high of $318.85. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.55 and a current ratio of 0.84.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 3rd. Investors of record on Friday, November 19th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, November 18th. The Sherwin-Williams’s dividend payout ratio (DPR) is presently 26.86%.

In other The Sherwin-Williams news, SVP Jane M. Cronin sold 7,722 shares of the stock in a transaction on Monday, August 16th. The shares were sold at an average price of $308.22, for a total transaction of $2,380,074.84. Following the sale, the senior vice president now directly owns 17,094 shares of the company’s stock, valued at $5,268,712.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John G. Morikis sold 155,520 shares of the company’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $288.92, for a total value of $44,932,838.40. Following the transaction, the chief executive officer now directly owns 433,251 shares of the company’s stock, valued at $125,174,878.92. The disclosure for this sale can be found here. Insiders sold a total of 193,248 shares of company stock worth $56,363,377 in the last quarter. 0.51% of the stock is currently owned by company insiders.

A hedge fund recently raised its stake in The Sherwin-Williams stock. Morgan Stanley grew its holdings in shares of The Sherwin-Williams Company (NYSE:SHW) by 123.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,950,247 shares of the specialty chemicals company’s stock after buying an additional 1,629,745 shares during the period. Morgan Stanley owned 1.12% of The Sherwin-Williams worth $803,794,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 75.94% of the company’s stock.

A number of brokerages recently commented on SHW. Royal Bank of Canada lowered their price objective on shares of The Sherwin-Williams from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 29th. Mizuho assumed coverage on The Sherwin-Williams in a report on Tuesday, October 12th. They set a “buy” rating and a $352.00 target price on the stock. Barclays boosted their price target on The Sherwin-Williams from $299.00 to $305.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 28th. BMO Capital Markets decreased their price objective on The Sherwin-Williams from $307.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, September 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Sherwin-Williams from $320.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $345.11.

The Sherwin-Williams Company Profile

The Sherwin-Williams Co engages in the manufacture and trade of paint and coatings. It operates through the following segments: America Group, Consumer Brands Group, and Performance Coating Group. The America Group segment manages the exclusive outlets for Sherwin-Williams branded paints, stains, supplies, equipment, and floor covering.

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Earnings History for The Sherwin-Williams (NYSE:SHW)

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