Equities analysts forecast that PPG Industries, Inc. (NYSE:PPG) will report $3.73 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for PPG Industries’ earnings, with the highest sales estimate coming in at $3.81 billion and the lowest estimate coming in at $3.65 billion. PPG Industries posted sales of $3.57 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4.5%. The company is scheduled to issue its next earnings results on Thursday, April 19th.
According to Zacks, analysts expect that PPG Industries will report full-year sales of $3.73 billion for the current year, with estimates ranging from $14.69 billion to $16.02 billion. For the next fiscal year, analysts anticipate that the company will report sales of $16.00 billion per share, with estimates ranging from $15.12 billion to $16.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for PPG Industries.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.61 billion. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share.
A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $120.00 price target on shares of PPG Industries in a research report on Friday, January 19th. Barclays restated an “equal weight” rating and set a $122.00 price objective (down from $125.00) on shares of PPG Industries in a report on Friday, March 2nd. Citigroup lowered their price target on shares of PPG Industries from $128.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Wells Fargo & Co reiterated a “market perform” rating and issued a $120.00 price target (up from $110.00) on shares of PPG Industries in a research note on Tuesday, November 28th. They noted that the move was a valuation call. Finally, Northcoast Research reiterated a “buy” rating and issued a $128.00 price target on shares of PPG Industries in a research note on Friday, January 19th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $124.19.
PPG Industries (NYSE PPG) opened at $115.07 on Wednesday. The firm has a market cap of $28,176.54, a price-to-earnings ratio of 19.14, a PEG ratio of 1.95 and a beta of 1.56. PPG Industries has a 52-week low of $100.34 and a 52-week high of $122.07. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.56%. PPG Industries’s dividend payout ratio is presently 28.53%.
PPG Industries declared that its board has authorized a stock repurchase program on Thursday, December 14th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, VP Jean-Marie Greindl sold 9,500 shares of PPG Industries stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the completion of the sale, the vice president now owns 27,685 shares of the company’s stock, valued at approximately $3,205,646.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in PPG Industries by 8.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 29,139 shares of the specialty chemicals company’s stock valued at $3,404,000 after purchasing an additional 2,192 shares during the period. D.B. Root & Company LLC bought a new stake in PPG Industries in the 4th quarter valued at about $4,658,000. KCM Investment Advisors LLC bought a new stake in PPG Industries in the 4th quarter valued at about $200,000. Colonial Trust Advisors boosted its holdings in PPG Industries by 61.0% in the 4th quarter. Colonial Trust Advisors now owns 28,101 shares of the specialty chemicals company’s stock valued at $3,283,000 after purchasing an additional 10,651 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its holdings in PPG Industries by 6.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 50,580 shares of the specialty chemicals company’s stock valued at $5,909,000 after purchasing an additional 2,955 shares during the period. 76.46% of the stock is owned by institutional investors and hedge funds.
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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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