PPG Industries Receives Consensus Rating of “Buy” from Analysts (NYSE:PPG)
Shares of PPG Industries (NYSE:PPG) have received an average rating of “Buy” from the thirteen ratings firms that are covering the company, Analyst Ratings Net reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $208.92.
Shares of PPG Industries (NYSE:PPG) opened at 198.71 on Monday. PPG Industries has a 52-week low of $155.27 and a 52-week high of $213.01. The stock has a 50-day moving average of $206.1 and a 200-day moving average of $196.6. The company has a market cap of $27.389 billion and a price-to-earnings ratio of 13.23.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.78 by $0.02. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the company posted $2.45 earnings per share. PPG Industries’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that PPG Industries will post $9.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Monday, August 11th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, August 7th.
In other PPG Industries news, CEO Charles E. Bunch sold 95,400 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $209.46, for a total value of $19,982,484.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on PPG shares. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PPG Industries in a research note on Friday, July 18th. They now have a $230.00 price target on the stock, up previously from $225.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of PPG Industries in a research note on Friday, July 18th. They now have a $218.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of PPG Industries in a research note on Friday, July 18th. They now have a $235.00 price target on the stock.
PPG Industries, Inc (NYSE:PPG) is a global supplier of protective and decorative coatings.
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