Sherwin-Williams Q4 Profit Misses, but Revenue Beats; Forecast Weak (SHW)

Sherwin-Williams Q4 Profit Misses, but Revenue Beats; Forecast Weak (SHW)


Paint and coatings maker Sherwin-Williams Company (SHW) on Thursday posted mixed fourth quarter earnings results and offered a tepid 2013 forecast.

The Cleveland-based company reported fourth quarter net income of $117.2 million, or $1.12 per share, compared with $14.6 million, or 14 cents per share, in the year-ago period. Last year’s results were hampered by big one-time items.

Revenue rose 7% from last year to $2.22 billion.

On average, Wall Street analysts expected a higher profit of $1.16 per share, albeit on lower revenue of $2.19 billion.

Looking ahead, SHW forecast full-year 2013 earnings to range from $7.45 to $7.55 per share, which would badly miss analysts’ outlook of $7.84 per share for the year. For the first quarter, the company expects profits of $1.03 to $1.13, which straddles analysts’ $1.08 per-share estimate.

Sherwin-Williams shares posted modest gains in Thursday morning trading. The stock has surged more than 67% in the past twelve months.

The Bottom Line
Shares of SHW currently offer a 0.96% dividend yield, based on Thursday morning’s trading price of $162.60 and the company’s annualized dividend payout of $1.56 per share.

Sherwin-Williams Company (SHW) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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