PPG Industries Sets New 12-Month High at $202.88 (PPG)
PPG Industries (NYSE:PPG)’s share price reached a new 52-week high during trading on Friday , American Banking News reports. The company traded as high as $202.88 and last traded at $201.84, with a volume of 202,198 shares traded. The stock had previously closed at $201.00.
Several analysts have recently commented on the stock. Analysts at Argus raised their price target on shares of PPG Industries from $216.00 to $224.00 in a research note on Friday, April 25th. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PPG Industries in a research note on Tuesday, April 22nd. They now have a $208.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of PPG Industries in a research note on Tuesday, April 22nd. They now have a $206.00 price target on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $194.69.
The stock has a 50-day moving average of $195.2 and a 200-day moving average of $190.2. The company has a market cap of $27.879 billion and a P/E ratio of 13.82.
PPG Industries (NYSE:PPG) last released its earnings data on Thursday, April 17th. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.09. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company posted $1.58 earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Analysts expect that PPG Industries will post $9.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, May 8th. This is a boost from PPG Industries’s previous quarterly dividend of $0.61.
PPG Industries, Inc (NYSE:PPG) is a global supplier of protective and decorative coatings.
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