PPG Industries Inc. (PPG) Announces Quarterly Dividend of $0.61
PPG Industries (NYSE:PPG) declared a quarterly dividend on Thursday, January 16th, Analyst Ratings Network.com reports. Investors of record on Friday, February 21st will be given a dividend of 0.61 per share on Wednesday, March 12th. This represents a $2.44 dividend on an annualized basis and a yield of 1.28%.
A number of research firms have recently commented on PPG. Analysts at Deutsche Bank reiterated a “buy” rating on shares of PPG Industries in a research note to investors on Friday, December 6th. They now have a $210.00 price target on the stock, up previously from $195.00. On the ratings front, analysts at RBC Capital raised their price target on shares of PPG Industries from $176.00 to $205.00 in a research note to investors on Wednesday, October 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of PPG Industries from $185.00 to $205.00 in a research note to investors on Tuesday, October 22nd. They now have a “positive” rating on the stock. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. PPG Industries has a consensus rating of “Buy” and an average price target of $179.83.
Shares of PPG Industries (NYSE:PPG) traded down 0.92% during mid-day trading on Thursday, hitting $188.94. 376,193 shares of the company’s stock traded hands. PPG Industries has a 1-year low of $128.20 and a 1-year high of $191.55. The stock’s 50-day moving average is $186.4 and its 200-day moving average is $171.4. The company has a market cap of $26.834 billion and a price-to-earnings ratio of 8.84.
PPG Industries (NYSE:PPG) last released its earnings data on Thursday, January 16th. The company reported $1.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.73 by $0.08. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, analysts predict that PPG Industries will post $8.20 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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