PPG Industries, Inc. (PPG) Forecasted to Post FY2017 Earnings of $5.87 Per Share
PPG Industries, Inc. (NYSE:PPG) – Stock analysts at Seaport Global Securities reduced their FY2017 earnings per share (EPS) estimates for shares of PPG Industries in a research report issued on Monday. Seaport Global Securities analyst M. Harrison now expects that the specialty chemicals company will earn $5.87 per share for the year, down from their prior forecast of $6.08. Seaport Global Securities also issued estimates for PPG Industries’ Q4 2017 earnings at $1.18 EPS, Q1 2018 earnings at $1.38 EPS, Q2 2018 earnings at $1.90 EPS, Q4 2018 earnings at $1.47 EPS and FY2018 earnings at $6.62 EPS.
A number of other research analysts have also issued reports on the company. SunTrust Banks, Inc. lowered PPG Industries from a “buy” rating to a “hold” rating and decreased their target price for the company from $120.00 to $113.00 in a report on Monday, July 24th. Argus raised PPG Industries from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.61 to $136.00 in a report on Wednesday, July 5th. Jefferies Group LLC reiterated a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research report on Friday, September 15th. Robert W. Baird lifted their target price on PPG Industries from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $109.00 target price on shares of PPG Industries in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $118.43.
PPG Industries (PPG) opened at 116.89 on Tuesday. The stock’s 50 day moving average price is $109.84 and its 200 day moving average price is $108.11. The company has a market cap of $29.98 billion, a P/E ratio of 30.75 and a beta of 1.55. PPG Industries has a 52-week low of $89.64 and a 52-week high of $117.91.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.52. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.75 billion. PPG Industries had a return on equity of 28.77% and a net margin of 12.21%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Polaris Greystone Financial Group LLC acquired a new position in PPG Industries during the 2nd quarter worth approximately $1,518,000. AXA increased its position in PPG Industries by 47.4% during the 2nd quarter. AXA now owns 828,685 shares of the specialty chemicals company’s stock worth $91,122,000 after purchasing an additional 266,457 shares during the period. Great Lakes Advisors LLC increased its position in PPG Industries by 214.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 6,662 shares of the specialty chemicals company’s stock worth $733,000 after purchasing an additional 4,541 shares during the period. BlackRock Inc. increased its position in PPG Industries by 2,006.8% during the 1st quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after purchasing an additional 13,902,595 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in PPG Industries by 1.2% during 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 purchasing an additional 216,278 shares during the period. Institutional investors own 73.96% of the company’s stock.
In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 15,545 shares in the company, valued at approximately $1,593,207.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Glenn E. Bost II sold 19,812 shares of the business’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 value of $1,997,049.60. Following the transaction, the vice president now owns 52,748 shares in the company, valued at approximately $5,316,998.40. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.54%. The ex-dividend date is Thursday, November 9th. PPG Industries’s payout ratio is 26.12%.
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.
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.