PPG Industries, Inc. (NYSE:PPG) – Investment analysts at Seaport Global Securities cut their Q4 2018 EPS estimates for shares of PPG Industries in a research report issued on Wednesday, January 16th. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will earn $1.07 per share for the quarter, down from their prior estimate of $1.10. Seaport Global Securities also issued estimates for PPG Industries’ Q2 2019 earnings at $1.92 EPS, Q3 2019 earnings at $1.77 EPS, FY2019 earnings at $6.48 EPS and FY2020 earnings at $7.36 EPS.
A number of other research analysts have also recently commented on PPG. Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Credit Suisse Group reissued a “neutral” rating and issued a $119.00 target price on shares of PPG Industries in a report on Monday, September 24th. Deutsche Bank dropped their price objective on PPG Industries from $124.00 to $116.00 and set a “buy” rating for the company in a research report on Tuesday, October 9th. Vertical Research lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, ValuEngine downgraded PPG Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. PPG Industries has an average rating of “Hold” and a consensus target price of $117.03.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 EPS for the quarter, hitting analysts’ consensus estimates of $1.45. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.81 billion. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. PPG Industries’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the business earned $1.52 EPS.
Several large investors have recently modified their holdings of PPG. Ipswich Investment Management Co. Inc. bought a new stake in shares of PPG Industries in the fourth quarter valued at approximately $41,000. Legacy Financial Advisors Inc. increased its holdings in shares of PPG Industries by 27.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 598 shares of the specialty chemicals company’s stock worth $61,000 after buying an additional 129 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in PPG Industries by 13.9% in the third quarter. Cornerstone Wealth Management LLC now owns 12,278 shares of the specialty chemicals company’s stock valued at $109,000 after purchasing an additional 1,497 shares during the period. G&S Capital LLC increased its holdings in PPG Industries by 13.9% in the fourth quarter. G&S Capital LLC now owns 1,275 shares of the specialty chemicals company’s stock valued at $130,000 after purchasing an additional 156 shares during the period. Finally, Investment Counselors of Maryland LLC acquired a new stake in PPG Industries in the third quarter valued at $158,000. Institutional investors own 78.42% of the company’s stock.
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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