Seaport Global Securities Research Analysts Raise Earnings Estimates for PPG Industries, Inc. (NYSE:PPG)
PPG Industries, Inc. (NYSE:PPG) – Equities research analysts at Seaport Global Securities boosted their FY2017 EPS estimates for PPG Industries in a research note issued on Monday. Seaport Global Securities analyst M. Harrison now expects that the specialty chemicals company will post earnings per share of $6.29 for the year, up from their prior estimate of $6.25. Seaport Global Securities also issued estimates for PPG Industries’ Q1 2018 earnings at $1.52 EPS, Q2 2018 earnings at $2.03 EPS, Q3 2018 earnings at $1.99 EPS, Q4 2018 earnings at $1.60 EPS and FY2018 earnings at $7.14 EPS.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. PPG Industries’s revenue for the quarter was up .6% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/07/27/seaport-global-securities-research-analysts-raise-earnings-estimates-for-ppg-industries-inc-nyseppg.html.
PPG has been the subject of a number of other research reports. Deutsche Bank AG raised their price target on shares of PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a report on Friday, July 21st. Citigroup Inc. reissued a “market perform” rating on shares of PPG Industries in a report on Friday, April 14th. Argus raised shares of PPG Industries from a “hold” rating to a “buy” rating and raised their price target for the company from $110.61 to $136.00 in a report on Wednesday, July 5th. Bank of America Corporation lowered shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price target for the company. in a report on Monday. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a report on Friday, May 26th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $113.93.
Shares of PPG Industries (NYSE PPG) opened at 106.75 on Thursday. The firm’s 50-day moving average price is $110.30 and its 200 day moving average price is $105.68. PPG Industries has a 52 week low of $89.64 and a 52 week high of $113.67. The firm has a market cap of $27.38 billion, a PE ratio of 28.08 and a beta of 1.56.
Several institutional investors have recently made changes to their positions in PPG. Investment Partners Ltd. OH ADV raised its position in shares of 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 valued at $273,000 after buying an additional 7 shares during the period. YorkBridge Wealth Partners LLC raised its position in shares of 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 valued at $637,000 after buying an additional 15 shares during the period. Linscomb & Williams Inc. raised its position in shares of PPG Industries by 1.1% in the first quarter. Linscomb & Williams Inc. now owns 2,925 shares of the specialty chemicals company’s stock valued at $307,000 after buying an additional 31 shares during the period. Balasa Dinverno & Foltz LLC raised its position in shares of 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 valued at $223,000 after buying an additional 31 shares during the period. Finally, Baystate Wealth Management LLC raised its position in shares of 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 period. 71.65% of the stock is owned by institutional investors.
The company 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 $0.45 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. PPG Industries’s payout ratio is 41.67%.
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.
Receive News & Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.