PPG Industries Inc. Plans Quarterly Dividend of $0.61 (PPG)
PPG Industries (NYSE:PPG) announced a quarterly dividend on Friday, October 18th, American Banking News reports. Stockholders of record on Monday, November 11th will be paid a dividend of $0.61 per share on Thursday, December 12th. This represents a $2.44 annualized dividend and a dividend yield of 1.40%.
PPG has been the subject of a number of recent research reports. Analysts at Jefferies Group raised their price target on shares of PPG Industries from $185.00 to $200.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. On a related note, analysts at Deutsche Bank reiterated a “buy” rating on shares of PPG Industries in a research note to investors on Tuesday, July 30th. They now have a $180.00 price target on the stock. Finally, analysts at Susquehanna raised their price target on shares of PPG Industries from $181.00 to $185.00 in a research note to investors on Monday, July 22nd. They now have a “positive” rating on the stock. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $159.53.
Shares of PPG Industries (NYSE:PPG) opened at 174.47 on Friday. PPG Industries has a 52-week low of $113.70 and a 52-week high of $174.74. The stock’s 50-day moving average is $164.1 and its 200-day moving average is $155.2. The company has a market cap of $24.933 billion and a P/E ratio of 7.95.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, October 17th. The company reported $2.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.33 by $0.11. The company had revenue of $4.00 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the company posted $2.24 earnings per share. PPG Industries’s revenue was up 16.8% compared to the same quarter last year. On average, analysts predict that PPG Industries will post $8.09 earnings per share for the current fiscal year.
PPG Industries, Inc (NYSE:PPG) is a global supplier of protective and decorative coatings.
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