SHW To Announce Q1 Results on April 22
Analysts at Northcoast Research reiterate their "buy" rating on Sherwin-Williams Co (NYSE: SHW). The target price for SHW is set to $70.
According to Northcoast Research, “Sherwin's first quarter is seasonally slow and we forecast that for this year it represents only 9% of total EPS.” SHW’s industrial coatings market is slowly recovering, the analsyts say. SHW is expected to announce its Q1 results on April 22.
“We remain optimistic about the company's growth strategy in Brazil, especially as its Euro Navy product line becomes increasingly involved in that country's energy exploration and infrastructure projects. The company's paint store competitors continue to yield market share to Sherwin-Williams International business growth should be the strongest element of 2010 profit gains,” the analysts mention.
“We expect Sherwin-Williams to report 1Q10 EPS on April 22 of $0.39 compared to $0.32 in the year ago quarter,” the analysts add.
