PPG Industries, Inc. (NYSE:PPG) – Stock analysts at Jefferies Financial Group cut their FY2018 EPS estimates for shares of PPG Industries in a research note issued to investors on Monday, October 8th. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will earn $5.80 per share for the year, down from their prior estimate of $6.35. Jefferies Financial Group also issued estimates for PPG Industries’ Q4 2018 earnings at $1.11 EPS and FY2019 earnings at $6.65 EPS.
Several other equities research analysts have also recently commented on PPG. KeyCorp dropped their target price on PPG Industries from $128.00 to $119.00 and set an “overweight” rating on the stock in a report on Friday. ValuEngine raised PPG Industries from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Northcoast Research set a $114.00 target price on PPG Industries and gave the stock a “buy” rating in a report on Tuesday. SunTrust Banks reissued a “hold” rating and set a $110.00 target price on shares of PPG Industries in a report on Friday, July 20th. Finally, Citigroup dropped their target price on PPG Industries from $123.00 to $113.00 and set a “neutral” rating on the stock in a report on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $118.71.
Shares of NYSE PPG opened at $95.09 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.70 and a quick ratio of 1.22. The company has a market cap of $26.41 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.11 and a beta of 1.50. PPG Industries has a 12-month low of $94.40 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.02. The business had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a return on equity of 27.36% and a net margin of 9.87%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 earnings per share.
Several hedge funds and other institutional investors have recently bought and sold shares of PPG. McKinley Carter Wealth Services Inc. bought a new position in shares of PPG Industries in the first quarter valued at $104,000. Cornerstone Wealth Management LLC bought a new position in shares of PPG Industries in the second quarter valued at $105,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of PPG Industries in the first quarter valued at $112,000. Summit Trail Advisors LLC increased its holdings in shares of PPG Industries by 11,166.0% in the first quarter. Summit Trail Advisors LLC now owns 118,631 shares of the specialty chemicals company’s stock valued at $119,000 after buying an additional 117,578 shares in the last quarter. Finally, Fort L.P. bought a new position in shares of PPG Industries in the second quarter valued at $120,000. 76.64% of the stock is currently owned by institutional investors.
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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