PPG Industries, Inc. (PPG) Expected to Announce Quarterly Sales of $3.60 Billion
Wall Street brokerages expect PPG Industries, Inc. (NYSE:PPG) to post sales of $3.60 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for PPG Industries’ earnings, with estimates ranging from $3.58 billion to $3.67 billion. PPG Industries posted sales of $3.50 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The company is scheduled to report its next earnings report before the market opens on Thursday, January 18th.
According to Zacks, analysts expect that PPG Industries will report full-year sales of $3.60 billion for the current financial year, with estimates ranging from $14.65 billion to $14.82 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $15.28 billion per share, with estimates ranging from $14.99 billion to $15.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow PPG Industries.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bristlecone Advisors LLC acquired a new position in PPG Industries during the third quarter worth approximately $179,000. Ropes Wealth Advisors LLC increased its position in PPG Industries by 5.0% during the second quarter. Ropes Wealth Advisors LLC now owns 1,743 shares of the specialty chemicals company’s stock worth $192,000 after purchasing an additional 83 shares during the last quarter. Checchi Capital Advisers LLC acquired a new position in PPG Industries during the third quarter worth approximately $200,000. Sun Life Financial INC increased its position in PPG Industries by 12,386.7% during the second quarter. Sun Life Financial INC now owns 1,873 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 1,858 shares during the last quarter. Finally, NEXT Financial Group Inc increased its position in PPG Industries by 188.3% during the third quarter. NEXT Financial Group Inc now owns 1,903 shares of the specialty chemicals company’s stock worth $216,000 after purchasing an additional 1,243 shares during the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of PPG Industries (NYSE:PPG) traded down $1.53 during midday trading on Tuesday, hitting $116.64. 2,277,300 shares of the company’s stock traded hands, compared to its average volume of 1,160,000. PPG Industries has a 12 month low of $94.62 and a 12 month high of $119.85. The stock has a market capitalization of $29,680.00, a P/E ratio of 23.24, a PEG ratio of 2.11 and a beta of 1.60. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68.
PPG Industries declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 14th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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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