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Market Update (NYSE:SHW): The Sherwin-Williams Company And Valspar Receive Second Request From FTC Under HSR Act

[PR Newswire] – CLEVELAND and MINNEAPOLIS, May 11, 2016 /PRNewswire/ — The Sherwin-Williams Company (SHW) and The Valspar Corporation (VAL) today announced that, as expected, the companies have each received a request for additional information and documentary material (a “Second Request”) from the United States Federal Trade Commission (“FTC”) in connection with Sherwin-Williams’ pending acquisition of Valspar. The Second Request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). This Second Request is a common part of the regulatory process in connection with the FTC’s review. Read more on this. The Sherwin-Williams Company (SHW) , valued at $27.19B, opened at $296.41. Looking at the stock, its one day range is $292.66 to $296.41 and has traded between $218.27 and $309.00 over the past 12 months. Sherwin-Williams (SHW) shares are currently priced at 23.36x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 31.49x earnings multiple for the same period. And for income investors, the company pays shareholders $3.36 per share annually in dividends, yielding 1.16%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $4.15 per share, which would be $0.45 better than the year-ago quarter and a $0.06 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $12.67 would be a $1.51 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.28 Billion. If realized, that would be a 4.79% increase over the year-ago quarter. Recently, Susquehanna upgraded SHW from Neutral to Positive (Mar 21, 2016). Previously, KeyBanc Capital Mkts downgraded SHW from Overweight to Sector Weight. When considering if the stock is under or overvalued, the average price target is $322.67, which is 8.86% above where the stock opened this morning. See more in (NYSE:SHW) Similar Articles: Company Update: The Sherwin-Williams Company (NYSE:SHW) – The Sherwin-Williams Company Reports 2016 First Quarter Financial Results Stock Update: The Sherwin-Williams Company (NYSE:SHW) – Sherwin-Williams Declares Dividend of $0.84 per Common Share Stock Update: The Sherwin-Williams Company (NYSE:SHW) – Sherwin-Williams to Announce Year-End 2015 Financial Results on January 28, 2016
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