PPG Industries, Inc. (NYSE:PPG) - Equities researchers at Seaport Global Securities upped their FY2017 earnings estimates for shares of PPG Industries in a report issued on Monday. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will post earnings per share of $6.29 for the year, up from their previous estimate of $6.25. Seaport Global Securities also issued estimates for PPG Industries’ Q1 2018 earnings at $1.52 EPS, Q2 2018 earnings at $2.03 EPS, Q3 2018 earnings at $1.99 EPS, Q4 2018 earnings at $1.60 EPS and FY2018 earnings at $7.14 EPS.
A number of other research analysts have also recently commented on PPG. SunTrust Banks, Inc. cut shares of PPG Industries from a “buy” rating to a “hold” rating and dropped their target price for the stock from $120.00 to $113.00 in a report on Monday. Credit Suisse Group set a $113.00 target price on shares of PPG Industries and gave the stock a “buy” rating in a report on Sunday, July 23rd. BidaskClub raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Jefferies Group LLC reissued a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a report on Thursday, July 6th. Finally, Bank of America Corporation cut shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 target price for the company. in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $113.93.
PPG Industries (PPG) traded down 0.410% during midday trading on Thursday, reaching $105.715. 775,154 shares of the company’s stock traded hands. The company has a market cap of $27.11 billion, a P/E ratio of 27.812 and a beta of 1.56. The stock has a 50-day moving average of $110.25 and a 200 day moving average of $105.68. PPG Industries has a 52-week low of $89.64 and a 52-week high of $113.67.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, meeting the consensus estimate of $1.83. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cable Hill Partners LLC raised its position in shares of PPG Industries by 8.5% in the first quarter. Cable Hill Partners LLC now owns 981 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 77 shares during the period. V Wealth Management LLC acquired a new position in shares of PPG Industries during the second quarter worth about $112,000. State of Alaska Department of Revenue acquired a new position in shares of PPG Industries during the second quarter worth about $113,000. Baystate Wealth Management LLC raised its position in shares of PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 40 shares during the period. Finally, Coconut Grove Bank raised its position in shares of PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 71.65% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, August 8th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s dividend payout ratio (DPR) is 41.67%.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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