Sherwin-Williams Beats 2016 Guidance and Paints Strong 2017 Outlook; Raising Fair Value to $315
Sherwin-Williams reported strong full-year 2016 results, with sales up 4.6% to $11.86 billion and adjusted earnings per share up 11.6% to $12.45. These figures exceeded management guidance of sales growing low single digits and earnings of $12.25 to $12.35 per share. The company also issued guidance for mid-single-digit revenue growth and roughly 10% earnings growth in 2017, which we think is achievable. Based on a stronger growth outlook, we are raising our fair value estimate to $315 per share...Sherwin-Williams is engaged in the development, manufacture, distribution and sale of paint, coatings and related products to industrial, commercial and retail customers. The company's segments are: The Americas Group, which markets and sells Sherwin-Williams? and other controlled brand architectural paint and coatings, protective and marine products, OEM product finishes and related products; Consumer Brands Group, which supplies architectural paints, stains, varnishes, and industrial products, among others; and Performance Coatings Group, which develops and sells industrial coatings, automotive refinish, protective and marine coatings, coil coatings, packaging coatings and resins and colorants.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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