PPG Industries, Inc. (NYSE:PPG) – Jefferies Group issued their Q1 2018 EPS estimates for PPG Industries in a research note issued to investors on Monday. Jefferies Group analyst L. Alexander forecasts that the specialty chemicals company will post earnings per share of $1.40 for the quarter. Jefferies Group currently has a “Buy” rating and a $135.00 price objective on the stock. Jefferies Group also issued estimates for PPG Industries’ Q2 2018 earnings at $1.96 EPS, Q3 2018 earnings at $1.74 EPS, Q4 2018 earnings at $1.45 EPS, FY2019 earnings at $7.35 EPS and FY2020 earnings at $8.05 EPS.
PPG has been the subject of a number of other research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $120.00 price objective on shares of PPG Industries in a report on Friday. Wells Fargo & Co reiterated a “market perform” rating and set a $120.00 price target (up previously from $110.00) on shares of PPG Industries in a report on Tuesday, November 28th. They noted that the move was a valuation call. Bank of America set a $120.00 price target on shares of PPG Industries and gave the stock a “hold” rating in a report on Friday, October 20th. Northcoast Research reiterated a “buy” rating and set a $128.00 price target on shares of PPG Industries in a report on Friday. Finally, Citigroup boosted their price target on shares of PPG Industries from $112.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, October 2nd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. PPG Industries has a consensus rating of “Hold” and an average price target of $123.47.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.61 billion. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.54%. PPG Industries’s dividend payout ratio is presently 28.53%.
PPG Industries announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 14th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several large investors have recently modified their holdings of the company. V Wealth Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth approximately $204,000. TRUE Private Wealth Advisors lifted its position in shares of PPG Industries by 101.8% during the 4th quarter. TRUE Private Wealth Advisors now owns 4,454 shares of the specialty chemicals company’s stock worth $520,000 after buying an additional 2,247 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of PPG Industries by 443.0% during the 4th quarter. State of Alaska Department of Revenue now owns 31,526 shares of the specialty chemicals company’s stock worth $3,680,000 after buying an additional 25,720 shares during the last quarter. Marathon Asset Management LLP lifted its position in shares of PPG Industries by 14.1% during the 4th quarter. Marathon Asset Management LLP now owns 590,939 shares of the specialty chemicals company’s stock worth $69,033,000 after buying an additional 72,962 shares during the last quarter. Finally, BerganKDV Wealth Management LLC lifted its position in shares of PPG Industries by 17.5% during the 4th quarter. BerganKDV Wealth Management LLC now owns 7,259 shares of the specialty chemicals company’s stock worth $848,000 after buying an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 75.03% of the company’s stock.
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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