Analysts expect PPG Industries, Inc. (NYSE:PPG) to post sales of $3.73 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for PPG Industries’ earnings, with the lowest sales estimate coming in at $3.65 billion and the highest estimate coming in at $3.81 billion. PPG Industries posted sales of $3.57 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The business is expected to report its next earnings report on Thursday, April 19th.
According to Zacks, analysts expect that PPG Industries will report full year sales of $3.73 billion for the current year, with estimates ranging from $14.83 billion to $16.02 billion. For the next fiscal year, analysts forecast that the business will report sales of $16.02 billion per share, with estimates ranging from $14.99 billion to $16.89 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow PPG Industries.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis.
A number of hedge funds have recently made changes to their positions in PPG. Cerebellum GP LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at about $128,000. Bristlecone Advisors LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at about $179,000. V Wealth Management LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at about $204,000. Waldron LP acquired a new position in shares of PPG Industries in the 4th quarter valued at about $214,000. Finally, Checchi Capital Advisers LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at about $200,000. 75.02% of the stock is owned by institutional investors.
Shares of PPG Industries (NYSE PPG) opened at $118.73 on Thursday. PPG Industries has a one year low of $99.00 and a one year high of $122.07. The stock has a market cap of $30,160.00, a price-to-earnings ratio of 21.79, a P/E/G ratio of 2.08 and a beta of 1.60. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, February 15th. PPG Industries’s dividend payout ratio is currently 33.03%.
PPG Industries declared that its Board of Directors has authorized a stock buyback 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 purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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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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