On July 28, Sherwin-Williams rose 4.81% in pre-market trading, trading at $343.52/share, with turnover of $68,600. The company is scheduled to release its fiscal Q2 earnings before market open, with market consensus expecting revenue growth of 4.82% year-over-year and adjusted EPS of $3.56.

On the news front, multiple investment banks recently raised their price targets on the stock: RBC Capital Markets raised its target to $405 maintaining an Outperform rating, BMO Capital raised to $400 with an Outperform rating, Bank of America raised to $383, and Citi raised to $380 maintaining a Buy rating. The concentrated wave of upgrades has bolstered market sentiment heading into the earnings event.

In the prior quarter, Sherwin-Williams reported revenue of $5.667 billion, up 6.81% year-over-year, with gross margin of 49.07% and adjusted EPS of $2.35, representing a 4.44% year-over-year increase. Management indicated that spring-summer peak season gross margins were expected to improve, while noting that inflationary and raw material pressures would continue to exert meaningful impact in Q2.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)