PPG Industries, Inc. (PPG) Expected to Earn Q4 2017 Earnings of $1.38 Per Share
PPG Industries, Inc. (NYSE:PPG) – Equities researchers at Seaport Global Securities dropped their Q4 2017 earnings estimates for PPG Industries in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Harrison now forecasts that the specialty chemicals company will post earnings of $1.38 per share for the quarter, down from their previous estimate of $1.39.
Several other research firms also recently issued reports on PPG. BidaskClub upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Credit Suisse Group restated an “outperform” rating and issued a $114.00 price target (up from $109.00) on shares of PPG Industries in a research note on Monday, July 17th. They noted that the move was a valuation call. Argus upgraded PPG Industries from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.61 to $136.00 in a research note on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a research note on Thursday, July 6th. Finally, Barclays PLC boosted their price target on PPG Industries from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, April 24th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $115.00.
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Shares of PPG Industries (PPG) traded down 0.26% on Wednesday, hitting $106.83. The company had a trading volume of 362,496 shares. PPG Industries has a 12-month low of $89.64 and a 12-month high of $113.67. The company has a market capitalization of $27.40 billion, a P/E ratio of 28.11 and a beta of 1.56. The firm has a 50-day moving average price of $110.38 and a 200 day moving average price of $105.58.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, meeting analysts’ consensus estimates of $1.83. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. PPG Industries’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s payout ratio is 41.67%.
Several institutional investors have recently bought and sold shares of the company. Investment Partners Ltd. OH ADV boosted its position in PPG Industries by 0.3% in the second quarter. Investment Partners Ltd. OH ADV now owns 2,485 shares of the specialty chemicals company’s stock worth $273,000 after buying an additional 7 shares during the period. YorkBridge Wealth Partners LLC boosted its position in PPG Industries by 0.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,820 shares of the specialty chemicals company’s stock worth $637,000 after buying an additional 15 shares during the period. Linscomb & Williams Inc. boosted its position in PPG Industries by 1.1% in the first quarter. Linscomb & Williams Inc. now owns 2,925 shares of the specialty chemicals company’s stock worth $307,000 after buying an additional 31 shares during the period. Balasa Dinverno & Foltz LLC boosted its position in PPG Industries by 1.6% in the second quarter. Balasa Dinverno & Foltz LLC now owns 2,027 shares of the specialty chemicals company’s stock worth $223,000 after buying an additional 31 shares during the period. Finally, Baystate Wealth Management LLC boosted 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 worth $109,000 after buying an additional 40 shares during the period. 71.65% of the stock is owned by institutional investors.
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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