Sherwin-Williams Co (SHW) Shares Sink on Profit Miss, Weak Outlook

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Sherwin-Williams Co (NYSE:SHW) stock took a hit today following the release of its earnings report for the second quarter of 2017.

Sherwin-Williams Co (SHW) Shares Sink on Profit Miss, Weak Outlook

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SHW stock wasn’t helped today by its earnings per share of $3.36 for the second quarter of 2017. This is a decrease from its earnings per share of $3.99 from the same time last yearn. It also failed to reach Wall Street’s earnings per share estimate of $4.57 for the quarter.

Sherwin-Williams Co’s net income for the second quarter of 2017 was $319.11 million. This is a drop from the company’s net income of $378.06 million that was reported during the second quarter of 2016.

SHW stock also dropped after the company updated its guidance for the full year of 2017. The paint company is expecting earnings per share for the year to range from $12.30 to $12.70. Wall Street is expecting Sherwin-Williams Co to report earnings per share of $14.76 in 2017.

Revenue reported by Sherwin-Williams Co in the second quarter of 2017 was $3.74 billion. This is an increase over its revenue of $3.22 billion that was reported in the same period of the year prior. It also came in above analysts’ revenue estimate of $3.67 billion for the second quarter of the year.

Sherwin-Williams Co has also announced its quarterly dividend for shareholders. It will be paying a dividend of 85 cents per share to holders of SHW stock on Sept. 8, 2017. Shareholders must be on record as of Aug. 18, 2017 to receive the dividend.

SHW stock was down 1% as of noon Thursday, but is up 30% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/07/sherwin-williams-co-shw/.

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