PPG Industries, Inc. (PPG) to Release Quarterly Earnings on Wednesday
PPG Industries, Inc. (NYSE:PPG) will be announcing its earnings results before the market opens on Wednesday, October 18th. Analysts expect the company to announce earnings of $1.69 per share for the quarter.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 earnings per share. On average, analysts expect PPG Industries to post $6.02 EPS for the current fiscal year and $6.77 EPS for the next fiscal year.
PPG Industries, Inc. (PPG) opened at 112.38 on Wednesday. The stock has a market cap of $28.82 billion, a P/E ratio of 29.57 and a beta of 1.55. The stock has a 50 day moving average price of $107.24 and a 200 day moving average price of $107.51. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $114.15.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Thursday, August 10th were issued a $0.45 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.60%. PPG Industries’s dividend payout ratio (DPR) is presently 46.88%.
A number of brokerages recently commented on PPG. BidaskClub raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $114.00 price target (up previously from $109.00) on shares of PPG Industries in a report on Monday, July 17th. They noted that the move was a valuation call. Argus raised shares of PPG Industries from a “hold” rating to a “buy” rating and increased their price target for the company from $110.61 to $136.00 in a report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a report on Thursday, July 6th. Finally, Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating in a report on Monday, September 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $115.67.
In other news, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the transaction, the insider now directly owns 15,545 shares of the company’s stock, valued at $1,593,207.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the transaction, the vice president now directly owns 52,748 shares in the company, valued at $5,316,998.40. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.
About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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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