Zacks: Analysts Expect PPG Industries, Inc. (PPG) Will Announce Quarterly Sales of $3.96 Billion
Wall Street brokerages expect PPG Industries, Inc. (NYSE:PPG) to report $3.96 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for PPG Industries’ earnings. The highest sales estimate is $4.02 billion and the lowest is $3.88 billion. PPG Industries reported sales of $4.06 billion in the same quarter last year, which would suggest a negative year over year growth rate of 2.5%. The business is scheduled to announce its next earnings report on Thursday, July 20th.
On average, analysts expect that PPG Industries will report full-year sales of $3.96 billion for the current year, with estimates ranging from $14.66 billion to $15.12 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $15.37 billion per share, with estimates ranging from $14.95 billion to $15.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow PPG Industries.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, April 20th. The specialty chemicals company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. PPG Industries had a net margin of 5.79% and a return on equity of 30.40%. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period last year, the company posted $1.31 EPS. The business’s revenue was up .7% on a year-over-year basis.
A number of equities research analysts have recently commented on the stock. Citigroup Inc. reiterated a “market perform” rating on shares of PPG Industries in a research report on Friday, April 14th. Barclays PLC raised their price objective on shares of PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, April 24th. TheStreet upgraded shares of PPG Industries from a “c+” rating to a “b+” rating in a research report on Monday, May 22nd. Jefferies Group LLC restated a “buy” rating and set a $120.00 price objective on shares of PPG Industries in a research report on Friday, May 26th. Finally, Deutsche Bank AG restated a “hold” rating and set a $110.00 price objective (up from $102.00) on shares of PPG Industries in a research report on Sunday, April 23rd. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $114.46.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cable Hill Partners LLC raised its position in PPG Industries by 8.5% in the first quarter. Cable Hill Partners LLC now owns 981 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 77 shares during the last quarter. Baystate Wealth Management LLC raised its position in PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock valued at $109,000 after buying an additional 40 shares during the last quarter. Coconut Grove Bank raised its position in PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock valued at $124,000 after buying an additional 600 shares during the last quarter. Global X Management Co. LLC raised its position in PPG Industries by 26.7% in the first quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock valued at $124,000 after buying an additional 249 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV acquired a new position in PPG Industries during the fourth quarter valued at approximately $137,000. 72.56% of the stock is owned by institutional investors and hedge funds.
Shares of PPG Industries (NYSE PPG) traded down 0.35% during trading on Friday, hitting $110.93. 792,781 shares of the company’s stock were exchanged. The company has a 50-day moving average of $108.43 and a 200-day moving average of $102.82. The company has a market cap of $28.42 billion, a P/E ratio of 33.97 and a beta of 1.54. PPG Industries has a 12-month low of $89.64 and a 12-month high of $113.49.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Wednesday, May 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Monday, May 8th. PPG Industries’s payout ratio is 48.93%.
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PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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