PPG Industries (PPG) Releases Q4 Earnings Guidance

PPG Industries (NYSE:PPG) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.03-1.13 for the period, compared to the Thomson Reuters consensus estimate of $1.34. PPG Industries also updated its Q3 guidance to $1.41 -1.45 EPS.

Shares of NYSE:PPG opened at $109.58 on Tuesday. The stock has a market cap of $26.41 billion, a PE ratio of 18.66, a PEG ratio of 2.11 and a beta of 1.50. The company has a quick ratio of 1.22, a current ratio of 1.70 and a debt-to-equity ratio of 1.01. PPG Industries has a 12 month low of $100.36 and a 12 month high of $122.07.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 19th. The specialty chemicals company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a net margin of 9.87% and a return on equity of 27.36%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.83 earnings per share. On average, equities analysts anticipate that PPG Industries will post 6.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Friday, August 10th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.75%. This is an increase from PPG Industries’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 9th. PPG Industries’s dividend payout ratio is 32.71%.

Several equities analysts have recently commented on PPG shares. Zacks Investment Research raised shares of PPG Industries from a sell rating to a hold rating in a research note on Tuesday, September 25th. Goldman Sachs Group raised shares of PPG Industries from a neutral rating to a buy rating and set a $126.00 price objective for the company in a research note on Wednesday, July 25th. JPMorgan Chase & Co. downgraded shares of PPG Industries from an overweight rating to a neutral rating and set a $113.00 price objective for the company. in a research note on Friday, July 27th. They noted that the move was a valuation call. KeyCorp decreased their price target on shares of PPG Industries from $130.00 to $128.00 and set a $104.41 rating for the company in a research note on Monday, July 23rd. Finally, Credit Suisse Group decreased their price target on shares of PPG Industries from $122.00 to $119.00 and set an outperform rating for the company in a research note on Friday, July 20th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. PPG Industries currently has a consensus rating of Hold and an average target price of $122.29.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Earnings History and Estimates for PPG Industries (NYSE:PPG)

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