Sherwin-Williams Company (The) (SHW) Releases Earnings Results, Beats Expectations By $0.13 EPS

Sherwin-Williams Company (The) (SHW) Releases  Earnings Results, Beats Expectations By $0.13 EPS

Sherwin-Williams Company (The) (NYSE:SHW) issued its quarterly earnings results on Thursday. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $2.21 by $0.13. Sherwin-Williams Company (The) had a net margin of 9.40% and a return on equity of 91.77%. The company earned $2.78 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the company earned $2.12 EPS. Sherwin-Williams Company (The)’s revenue was up 6.8% on a year-over-year basis.

Sherwin-Williams Company (NYSE:SHW) opened at 305.20 on Monday. The company’s 50-day moving average is $277.61 and its 200-day moving average is $277.92. Sherwin-Williams Company has a one year low of $239.48 and a one year high of $312.48. The firm has a market capitalization of $28.11 billion, a P/E ratio of 25.45 and a beta of 1.01.

SHW has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Sherwin-Williams Company (The) from a “hold” rating to a “buy” rating and set a $305.00 price objective for the company in a report on Wednesday, December 28th. Credit Suisse Group restated a “buy” rating and set a $297.00 price objective on shares of Sherwin-Williams Company (The) in a report on Thursday, December 22nd. Vetr cut shares of Sherwin-Williams Company (The) from a “strong-buy” rating to a “buy” rating and set a $301.22 price objective for the company. in a report on Wednesday, December 7th. Argus upgraded shares of Sherwin-Williams Company (The) from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Monday, October 10th. Finally, Evercore ISI upgraded shares of Sherwin-Williams Company (The) from a “hold” rating to a “buy” rating in a report on Tuesday, November 8th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $326.55.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bright Rock Capital Management LLC increased its stake in Sherwin-Williams Company (The) by 3.8% in the third quarter. Bright Rock Capital Management LLC now owns 23,100 shares of the company’s stock worth $6,391,000 after buying an additional 850 shares in the last quarter. Columbus Circle Investors increased its stake in Sherwin-Williams Company (The) by 64.9% in the second quarter. Columbus Circle Investors now owns 48,233 shares of the company’s stock worth $14,165,000 after buying an additional 18,979 shares in the last quarter. Wells Fargo & Company MN increased its stake in Sherwin-Williams Company (The) by 2.6% in the third quarter. Wells Fargo & Company MN now owns 741,186 shares of the company’s stock worth $205,057,000 after buying an additional 18,544 shares in the last quarter. Morgan Stanley increased its stake in Sherwin-Williams Company (The) by 11.7% in the third quarter. Morgan Stanley now owns 699,453 shares of the company’s stock worth $193,510,000 after buying an additional 73,113 shares in the last quarter. Finally, Third Point LLC increased its stake in shares of Sherwin-Williams Company (The) by 25.0% in the third quarter. Third Point LLC now owns 875,000 shares of the company’s stock valued at $242,078,000 after buying an additional 175,000 shares during the period. 73.77% of the stock is owned by institutional investors and hedge funds.

Sherwin-Williams Company (The) Company Profile

The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.

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