Analysts expect PPG Industries, Inc. (NYSE:PPG) to report $1.21 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for PPG Industries’ earnings. The lowest EPS estimate is $1.14 and the highest is $1.29. PPG Industries posted earnings per share of $1.19 in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.7%. The business is scheduled to announce its next quarterly earnings report on Thursday, January 18th.
According to Zacks, analysts expect that PPG Industries will report full-year earnings of $5.90 per share for the current fiscal year, with EPS estimates ranging from $5.84 to $5.99. For the next financial year, analysts anticipate that the company will report earnings of $6.59 per share, with EPS estimates ranging from $6.40 to $6.80. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover PPG Industries.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.52. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.56 EPS.
Several research firms have weighed in on PPG. Citigroup Inc. upped their price target on PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Bank of America Corporation set a $120.00 price target on PPG Industries and gave the stock a “hold” rating in a research note on Friday, October 20th. Credit Suisse Group set a $119.00 price target on PPG Industries and gave the stock a “buy” rating in a research note on Friday, October 20th. Robert W. Baird upped their price target on PPG Industries from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Finally, Zacks Investment Research downgraded PPG Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $119.36.
Shares of PPG Industries (NYSE:PPG) traded down $0.07 during trading hours on Wednesday, hitting $115.27. The company had a trading volume of 1,502,437 shares, compared to its average volume of 1,450,445. The company has a market cap of $29,330.00, a P/E ratio of 19.50, a PEG ratio of 2.28 and a beta of 1.60. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. PPG Industries has a 52 week low of $93.80 and a 52 week high of $119.85.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.56%. PPG Industries’s dividend payout ratio (DPR) is 35.86%.
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Several institutional investors and hedge funds have recently modified their holdings of PPG. Capital Research Global Investors purchased a new stake in shares of PPG Industries during the 2nd quarter worth approximately $192,226,000. American Century Companies Inc. raised its holdings in PPG Industries by 408.2% during the 3rd quarter. American Century Companies Inc. now owns 1,878,315 shares of the specialty chemicals company’s stock valued at $204,098,000 after buying an additional 1,508,715 shares during the period. Nordea Investment Management AB raised its holdings in PPG Industries by 52.6% during the 2nd quarter. Nordea Investment Management AB now owns 2,758,249 shares of the specialty chemicals company’s stock valued at $303,297,000 after buying an additional 950,967 shares during the period. Pioneer Investment Management Inc. raised its holdings in PPG Industries by 208.1% during the 2nd quarter. Pioneer Investment Management Inc. now owns 1,183,124 shares of the specialty chemicals company’s stock valued at $130,096,000 after buying an additional 799,098 shares during the period. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in PPG Industries during the 3rd quarter valued at $63,331,000. 73.52% of the stock is currently owned by institutional investors and hedge funds.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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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