SHW Stock Recent News

Sherwin-Williams (SHW) shares rose Tuesday after the paint maker posted better-than-forecast second-quarter adjusted profit on higher residential sales. The paint maker also raised its 2024 profit outlook.

While the top- and bottom-line numbers for Sherwin-Williams (SHW) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Consolidated net sales of Sherwin-Williams (SHW) increase primarily owing to higher sales volumes in the Paint Stores and Performance Coatings Groups in Q2.

Sherwin-Williams (SHW) came out with quarterly earnings of $3.70 per share, beating the Zacks Consensus Estimate of $3.51 per share. This compares to earnings of $3.29 per share a year ago.

Sherwin-Williams Co.'s stock SHW, +0.16% jumped 6% premarket Tuesday, after the paint company's better-than-expected second-quarter profit offset a sales miss. Cleveland, Ohio-based Sherwin-Williams posted net income of $889.9 million, or $3.50 a share, for the quarter, up from $793.7 million, or $3.07 a share, in the year-earlier period.

CLEVELAND , July 23, 2024 /PRNewswire/ -- The Sherwin-Williams Company (NYSE: SHW) announced its financial results for the second quarter ended June 30, 2024. All comparisons are to the second quarter of the prior year, unless otherwise noted.

Sherwin-Williams (SHW) is likely to have benefited from cost-cutting initiatives and actions to expand its retail business in Q2 amid headwinds in certain businesses.

A diversified business model helps Sherwin-Williams limit cyclical downturns. It has done a masterful job growing earnings through organic growth and acquisitions.

Sherwin-Williams downgraded to 'Sell' rating due to underperformance in paint store growth and weakness in the residential housing market. Anticipated continued weakness in Paint Group segment due to high mortgage rates and declining consumer confidence. Fair value of the stock calculated to be $270 per share, with downside risks including potential acceleration of stock repurchase and the Fed cutting interest rates earlier than expected.

As of July 19, 2024, three stocks in the materials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.