KeyCorp Weighs in on The Sherwin-Williams Company’s Q3 2021 Earnings (NYSE:SHW)

The Sherwin-Williams Company (NYSE:SHW) – Investment analysts at KeyCorp raised their Q3 2021 EPS estimates for The Sherwin-Williams in a report issued on Tuesday, June 8th. KeyCorp analyst K. Zener now anticipates that the specialty chemicals company will post earnings of $2.74 per share for the quarter, up from their previous forecast of $2.72. KeyCorp has a “Overweight” rating and a $320.00 price target on the stock. KeyCorp also issued estimates for The Sherwin-Williams’ Q4 2021 earnings at $1.79 EPS.

SHW has been the subject of a number of other research reports. BMO Capital Markets increased their target price on shares of The Sherwin-Williams from $278.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, May 3rd. Robert W. Baird raised their price objective on shares of The Sherwin-Williams from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group restated a “hold” rating and issued a $800.00 price objective on shares of The Sherwin-Williams in a research report on Sunday, April 4th. Morgan Stanley raised their price objective on shares of The Sherwin-Williams from $275.00 to $315.00 and gave the company an “overweight” rating in a research report on Monday, May 17th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $291.33 price objective on shares of The Sherwin-Williams in a research report on Monday, March 15th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The Sherwin-Williams currently has a consensus rating of “Buy” and a consensus price target of $325.91.

Shares of NYSE:SHW opened at $277.86 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.90 and a quick ratio of 0.58. The company has a market capitalization of $73.90 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.82 and a beta of 1.08. The Sherwin-Williams has a twelve month low of $178.66 and a twelve month high of $293.05. The stock’s 50-day simple moving average is $274.73.

The Sherwin-Williams (NYSE:SHW) last issued its earnings results on Monday, April 26th. The specialty chemicals company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.51 billion. The Sherwin-Williams had a net margin of 11.23% and a return on equity of 66.09%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $4.08 earnings per share.

Hedge funds have recently made changes to their positions in the company. CVA Family Office LLC bought a new stake in shares of The Sherwin-Williams during the 1st quarter valued at $30,000. Wealthcare Advisory Partners LLC bought a new stake in shares of The Sherwin-Williams during the 1st quarter valued at $30,000. Vantage Consulting Group Inc bought a new stake in shares of The Sherwin-Williams during the 4th quarter valued at $31,000. Trustcore Financial Services LLC bought a new stake in shares of The Sherwin-Williams during the 1st quarter valued at $37,000. Finally, Ellevest Inc. boosted its holdings in shares of The Sherwin-Williams by 114.8% during the 4th quarter. Ellevest Inc. now owns 58 shares of the specialty chemicals company’s stock valued at $43,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 27.48% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, June 4th. Investors of record on Friday, May 21st were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 20th. The Sherwin-Williams’s dividend payout ratio (DPR) is currently 26.86%.

The Sherwin-Williams declared that its board has initiated a stock repurchase program on Wednesday, February 17th that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About The Sherwin-Williams

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.

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

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