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The Sherwin-Williams Company’s (SHW - Free Report) shares reached a fresh 52-week high of $371.19 on Sept. 3 before closing at $363.75.
In the past year, SHW stock has risen 34.9% compared with the industry’s 33.9% growth.
Image Source: Zacks Investment Research
What’s Driving Sherwin-Williams Stock?
Sherwin-Williams delivered stronger-than-expected earnings in second-quarter 2024 and raised its full-year guidance. SHW posted adjusted earnings of $3.70 per share, surpassing the Zacks Consensus Estimate of $3.51. Revenues reached $6,271.5 million, up 0.5% year over year, but fell short of the Zacks Consensus Estimate of $6,350.1 million. Revenue growth was driven by increased sales in the Paint Stores and Performance Coatings segments, partially offset by lower volumes in the Consumer Brands segment.
The Paint Stores Group achieved sales growth of approximately 3.5%, supported by low-single-digit volume gains and higher selling prices, with growth across all end markets except property maintenance. The Performance Coatings Group also registered modest sales growth, aided by an acquisition, although currency headwinds and mixed volume performance across regions were a challenge. The Consumer Brands Group experienced a sales decline due to weaker DIY demand in North America, a divestiture and unfavorable currency effects.
Sherwin-Williams expects consolidated net sales to grow a low-single-digit percentage year over year in the third quarter, with similar growth anticipated for the full year. The company projects 2024 earnings per share (EPS) to be between $10.30 and $10.60, with adjusted EPS in the range of $11.10-$11.40.
SHW delivered an average earnings surprise of 4.5% in the trailing four quarters. The Zacks Consensus Estimate for its 2024 EPS is pegged at $11.47, indicating an increase of 10.8% from the prior year’s tally.
The Zacks Consensus Estimate for Newmont’s current-year earnings is pegged at $2.82 per share, indicating a rise of 75% from the year-ago level. The consensus mark for NEM’s earnings has increased 14% in the past 60 days.The stock has gained nearly 34.6% in the past year.
The Zacks Consensus Estimate for CRS’ current-year earnings is pegged at $6.06 per share, indicating a rise of 27.9% from the year-ago level. CRS’ earnings beat the consensus estimate in each of the last four quarters, the average earnings surprise being 15.9%. The stock has rallied nearly 116% in the past year.
The Zacks Consensus Estimate for Eldorado Gold’s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the last four quarters, with the average surprise being 430.3%. The company's shares have surged nearly 70.8% in the past year.
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SHW's Shares Scale Fresh 52-Week High: What's Driving it?
The Sherwin-Williams Company’s (SHW - Free Report) shares reached a fresh 52-week high of $371.19 on Sept. 3 before closing at $363.75.
In the past year, SHW stock has risen 34.9% compared with the industry’s 33.9% growth.
Image Source: Zacks Investment Research
What’s Driving Sherwin-Williams Stock?
Sherwin-Williams delivered stronger-than-expected earnings in second-quarter 2024 and raised its full-year guidance. SHW posted adjusted earnings of $3.70 per share, surpassing the Zacks Consensus Estimate of $3.51. Revenues reached $6,271.5 million, up 0.5% year over year, but fell short of the Zacks Consensus Estimate of $6,350.1 million. Revenue growth was driven by increased sales in the Paint Stores and Performance Coatings segments, partially offset by lower volumes in the Consumer Brands segment.
The Paint Stores Group achieved sales growth of approximately 3.5%, supported by low-single-digit volume gains and higher selling prices, with growth across all end markets except property maintenance. The Performance Coatings Group also registered modest sales growth, aided by an acquisition, although currency headwinds and mixed volume performance across regions were a challenge. The Consumer Brands Group experienced a sales decline due to weaker DIY demand in North America, a divestiture and unfavorable currency effects.
Sherwin-Williams expects consolidated net sales to grow a low-single-digit percentage year over year in the third quarter, with similar growth anticipated for the full year. The company projects 2024 earnings per share (EPS) to be between $10.30 and $10.60, with adjusted EPS in the range of $11.10-$11.40.
SHW delivered an average earnings surprise of 4.5% in the trailing four quarters. The Zacks Consensus Estimate for its 2024 EPS is pegged at $11.47, indicating an increase of 10.8% from the prior year’s tally.
The Sherwin-Williams Company Price and Consensus
The Sherwin-Williams Company price-consensus-chart | The Sherwin-Williams Company Quote
Zacks Rank & Key Picks
SHW currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Newmont Corporation (NEM - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Eldorado Gold Corporation (EGO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Newmont’s current-year earnings is pegged at $2.82 per share, indicating a rise of 75% from the year-ago level. The consensus mark for NEM’s earnings has increased 14% in the past 60 days.The stock has gained nearly 34.6% in the past year.
The Zacks Consensus Estimate for CRS’ current-year earnings is pegged at $6.06 per share, indicating a rise of 27.9% from the year-ago level. CRS’ earnings beat the consensus estimate in each of the last four quarters, the average earnings surprise being 15.9%. The stock has rallied nearly 116% in the past year.
The Zacks Consensus Estimate for Eldorado Gold’s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the last four quarters, with the average surprise being 430.3%. The company's shares have surged nearly 70.8% in the past year.