Analysts Expect PPG Industries, Inc. (PPG) to Announce $1.20 EPS

Analysts expect that PPG Industries, Inc. (NYSE:PPG) will report earnings of $1.20 per share for the current quarter, Zacks reports. Five analysts have made estimates for PPG Industries’ earnings, with the highest EPS estimate coming in at $1.29 and the lowest estimate coming in at $1.14. PPG Industries reported earnings per share of $1.19 in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The company is expected to report its next earnings report on Thursday, January 18th.

According to Zacks, analysts expect that PPG Industries will report full year earnings of $5.89 per share for the current fiscal year, with EPS estimates ranging from $5.84 to $5.99. For the next fiscal year, analysts forecast that the company will report earnings of $6.56 per share, with EPS estimates ranging from $6.40 to $6.75. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover PPG Industries.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, meeting the consensus estimate of $1.52. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.56 earnings per share.

Several analysts recently weighed in on PPG shares. Robert W. Baird reiterated a “buy” rating and issued a $115.00 price target on shares of PPG Industries in a report on Friday, September 1st. Bank of America set a $120.00 price objective on PPG Industries and gave the company a “hold” rating in a research report on Friday, October 20th. Royal Bank of Canada reissued a “hold” rating and set a $109.00 price objective on shares of PPG Industries in a research report on Wednesday, September 13th. Citigroup raised their price objective on PPG Industries from $114.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. PPG Industries has an average rating of “Hold” and an average price target of $120.63.

PPG Industries (NYSE PPG) traded up $0.21 during trading hours on Thursday, reaching $116.49. 548,000 shares of the company traded hands, compared to its average volume of 1,427,662. The company has a market capitalization of $29,590.00, a PE ratio of 23.21, a P/E/G ratio of 2.32 and a beta of 1.60. PPG Industries has a twelve month low of $94.46 and a twelve month high of $119.85. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.55%. PPG Industries’s dividend payout ratio is currently 35.86%.

PPG Industries announced that its board has initiated a share buyback plan on Thursday, December 14th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently added to or reduced their stakes in PPG. Atlantic Trust Group LLC grew its stake in shares of PPG Industries by 21.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 14,943 shares of the specialty chemicals company’s stock valued at $1,624,000 after acquiring an additional 2,615 shares during the period. Parametric Portfolio Associates LLC boosted its stake in PPG Industries by 3.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 619,783 shares of the specialty chemicals company’s stock worth $67,346,000 after purchasing an additional 22,803 shares during the period. Steward Partners Investment Advisory LLC bought a new position in PPG Industries in the 3rd quarter worth approximately $571,000. Smith Shellnut Wilson LLC ADV bought a new position in PPG Industries in the 3rd quarter worth approximately $393,000. Finally, Belpointe Asset Management LLC bought a new position in PPG Industries in the 3rd quarter worth approximately $423,000. Institutional investors and hedge funds own 74.99% of the company’s stock.

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About PPG Industries

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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