Analysts Expect PPG Industries, Inc. (PPG) Will Announce Quarterly Sales of $3.75 Billion
Analysts expect PPG Industries, Inc. (NYSE:PPG) to post sales of $3.75 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for PPG Industries’ earnings. The lowest sales estimate is $3.71 billion and the highest is $3.81 billion. PPG Industries reported sales of $3.79 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1.1%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, October 19th.
On average, analysts expect that PPG Industries will report full year sales of $3.75 billion for the current year, with estimates ranging from $14.35 billion to $14.79 billion. For the next financial year, analysts forecast that the firm will report sales of $15.12 billion per share, with estimates ranging from $14.70 billion to $15.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover PPG Industries.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.83. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. PPG Industries’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS.
A number of research firms have weighed in on PPG. Royal Bank Of Canada reiterated a “hold” rating and issued a $109.00 price target on shares of PPG Industries in a research report on Wednesday, August 9th. BidaskClub lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Citigroup Inc. upped their target price on shares of PPG Industries from $112.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. SunTrust Banks, Inc. lowered shares of PPG Industries from a “buy” rating to a “hold” rating and dropped their target price for the stock from $120.00 to $113.00 in a research report on Monday, July 24th. Finally, Zacks Investment Research lowered shares of PPG Industries from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. PPG Industries has a consensus rating of “Hold” and an average price target of $115.67.
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Shares of PPG Industries (PPG) opened at 113.17 on Tuesday. The stock has a market capitalization of $29.03 billion, a price-to-earnings ratio of 29.77 and a beta of 1.55. The company has a 50-day moving average of $108.15 and a 200 day moving average of $107.69. PPG Industries has a one year low of $89.64 and a one year high of $114.15.
In related news, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $100.80, for a total value of $1,997,049.60. Following the transaction, the vice president now owns 52,748 shares of the company’s stock, valued at approximately $5,316,998.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the transaction, the insider now directly owns 15,545 shares in the company, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in PPG Industries by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,751,232 shares of the specialty chemicals company’s stock worth $2,171,845,000 after buying an additional 310,086 shares during the period. Massachusetts Financial Services Co. MA increased its stake in PPG Industries by 1.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,544,989 shares of the specialty chemicals company’s stock worth $1,948,708,000 after buying an additional 216,278 shares during the period. BlackRock Inc. increased its stake in PPG Industries by 2,006.8% in the 1st quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after buying an additional 13,902,595 shares during the period. Clearbridge Investments LLC increased its stake in PPG Industries by 4.7% in the 1st quarter. Clearbridge Investments LLC now owns 4,991,865 shares of the specialty chemicals company’s stock worth $524,545,000 after buying an additional 222,376 shares during the period. Finally, Lazard Asset Management LLC increased its stake in PPG Industries by 639.5% in the 1st quarter. Lazard Asset Management LLC now owns 4,213,143 shares of the specialty chemicals company’s stock worth $442,716,000 after buying an additional 3,643,443 shares during the period. 73.93% of the stock is currently owned by institutional investors.
PPG Industries Company Profile
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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