Equities analysts expect that PPG Industries, Inc. (NYSE:PPG) will report $3.66 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for PPG Industries’ earnings. The highest sales estimate is $3.70 billion and the lowest is $3.61 billion. PPG Industries reported sales of $3.68 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.5%. The company is scheduled to announce its next earnings report on Thursday, January 17th.
On average, analysts expect that PPG Industries will report full-year sales of $15.40 billion for the current financial year, with estimates ranging from $15.34 billion to $15.45 billion. For the next fiscal year, analysts expect that the firm will post sales of $15.74 billion, with estimates ranging from $15.41 billion to $16.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PPG Industries.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share for the quarter, meeting the consensus estimate of $1.45. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year.
Several equities research analysts have weighed in on the stock. ValuEngine raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Vertical Research downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Northcoast Research set a $114.00 price target on shares of PPG Industries and gave the company a “buy” rating in a research note on Tuesday, October 9th. SunTrust Banks reaffirmed a “hold” rating and issued a $110.00 price target on shares of PPG Industries in a research note on Friday, July 20th. Finally, Goldman Sachs Group raised shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Wednesday, July 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $117.81.
Several large investors have recently bought and sold shares of the company. IFM Investors Pty Ltd boosted its holdings in PPG Industries by 43.4% during the second quarter. IFM Investors Pty Ltd now owns 11,418 shares of the specialty chemicals company’s stock worth $1,184,000 after purchasing an additional 3,456 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in PPG Industries by 5.9% during the second quarter. State of Alaska Department of Revenue now owns 41,996 shares of the specialty chemicals company’s stock worth $4,353,000 after purchasing an additional 2,340 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in PPG Industries by 8.7% during the second quarter. Raymond James Trust N.A. now owns 18,487 shares of the specialty chemicals company’s stock worth $1,918,000 after purchasing an additional 1,472 shares during the last quarter. Confluence Investment Management LLC purchased a new position in PPG Industries during the second quarter worth about $16,223,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in PPG Industries during the second quarter worth about $458,000. 78.76% of the stock is owned by institutional investors.
PPG opened at $107.71 on Friday. PPG Industries has a 1-year low of $94.37 and a 1-year high of $122.07. The company has a quick ratio of 1.22, a current ratio of 1.71 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $25.75 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 2.22 and a beta of 1.36.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Monday, November 12th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 8th. PPG Industries’s payout ratio is presently 32.71%.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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