PPG Industries, Inc. (NYSE:PPG) Expected to Announce Earnings of $1.20 Per Share

Equities analysts predict that PPG Industries, Inc. (NYSE:PPG) will announce earnings per share (EPS) of $1.20 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for PPG Industries’ earnings, with estimates ranging from $1.18 to $1.23. PPG Industries reported earnings of $1.59 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 24.5%. The firm is scheduled to issue its next quarterly earnings report on Thursday, January 20th.

On average, analysts expect that PPG Industries will report full year earnings of $6.72 per share for the current financial year, with EPS estimates ranging from $6.70 to $6.75. For the next fiscal year, analysts anticipate that the firm will report earnings of $8.48 per share, with EPS estimates ranging from $7.95 to $8.95. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for PPG Industries.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 19th. The specialty chemicals company reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.10. PPG Industries had a net margin of 8.71% and a return on equity of 27.62%. The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the prior year, the business earned $1.93 earnings per share. The company’s quarterly revenue was up 18.6% compared to the same quarter last year.

Several research firms have recently weighed in on PPG. Bank of America increased their price target on shares of PPG Industries from $185.00 to $188.00 and gave the company a “buy” rating in a research note on Friday, October 22nd. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and set a $165.00 price target for the company. in a report on Friday, October 22nd. Barclays boosted their price objective on shares of PPG Industries from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Friday, October 22nd. Royal Bank of Canada dropped their price target on shares of PPG Industries from $183.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, September 8th. Finally, Wells Fargo & Company upped their price objective on shares of PPG Industries from $180.00 to $183.00 and gave the stock an “overweight” rating in a report on Friday, October 22nd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, PPG Industries currently has an average rating of “Buy” and an average target price of $177.33.

Shares of PPG traded down $1.67 during midday trading on Thursday, reaching $158.76. The company had a trading volume of 846,319 shares, compared to its average volume of 1,315,779. PPG Industries has a 1-year low of $132.10 and a 1-year high of $182.97. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.95. The firm has a 50 day simple moving average of $155.89 and a 200-day simple moving average of $164.12. The stock has a market cap of $37.69 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Wednesday, November 10th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.49%. PPG Industries’s payout ratio is 39.66%.

A number of institutional investors have recently modified their holdings of PPG. EP Wealth Advisors LLC increased its position in shares of PPG Industries by 23.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 2,079 shares of the specialty chemicals company’s stock valued at $297,000 after purchasing an additional 389 shares during the last quarter. CFS Investment Advisory Services LLC acquired a new position in shares of PPG Industries during the third quarter worth $2,034,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in PPG Industries in the third quarter valued at $905,000. Kentucky Retirement Systems boosted its position in shares of PPG Industries by 2.5% during the 3rd quarter. Kentucky Retirement Systems now owns 14,150 shares of the specialty chemicals company’s stock worth $2,024,000 after acquiring an additional 344 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of PPG Industries by 1.1% during the 3rd quarter. Captrust Financial Advisors now owns 10,786 shares of the specialty chemicals company’s stock worth $1,543,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

About PPG Industries

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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

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