Brokerages expect that PPG Industries, Inc. (NYSE:PPG) will announce sales of $3.66 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for PPG Industries’ earnings, with the highest sales estimate coming in at $3.70 billion and the lowest estimate coming in at $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 issue 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 year, with estimates ranging from $15.34 billion to $15.45 billion. For the next year, analysts anticipate that the company will report sales of $15.74 billion, with estimates ranging from $15.41 billion to $16.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow PPG Industries.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.45. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the previous year, the firm earned $1.52 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year.
A number of research firms recently commented on PPG. Longbow Research began coverage on PPG Industries in a report on Friday. They issued a “neutral” rating on the stock. Deutsche Bank lowered their price target on PPG Industries from $124.00 to $116.00 and set a “buy” rating on the stock in a report on Tuesday, October 9th. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a report on Monday, October 8th. Citigroup raised PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 price target on the stock in a report on Thursday. Finally, KeyCorp lowered their price target on PPG Industries from $128.00 to $119.00 and set an “overweight” rating on the stock in a report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $119.00.
NYSE PPG opened at $109.33 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.71. PPG Industries has a 12 month low of $94.37 and a 12 month high of $122.07. The company has a market capitalization of $26.23 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Monday, November 12th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.76%. PPG Industries’s dividend payout ratio (DPR) is 32.71%.
Institutional investors and hedge funds have recently modified their holdings of the company. Cornerstone Wealth Management LLC bought a new position in shares of PPG Industries during the 2nd quarter valued at approximately $105,000. Raymond James Financial Services Advisors Inc. increased its position in shares of PPG Industries by 3.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 59,708 shares of the specialty chemicals company’s stock valued at $6,194,000 after purchasing an additional 2,247 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of PPG Industries by 6.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 797,162 shares of the specialty chemicals company’s stock valued at $82,690,000 after purchasing an additional 51,380 shares during the last quarter. Smith Asset Management Group LP increased its position in shares of PPG Industries by 2.0% during the 2nd quarter. Smith Asset Management Group LP now owns 70,241 shares of the specialty chemicals company’s stock valued at $7,286,000 after purchasing an additional 1,370 shares during the last quarter. Finally, Personal Capital Advisors Corp increased its position in shares of PPG Industries by 156.7% during the 2nd quarter. Personal Capital Advisors Corp now owns 6,773 shares of the specialty chemicals company’s stock valued at $703,000 after purchasing an additional 4,135 shares during the last quarter. 78.05% of the stock is currently owned by institutional investors and hedge funds.
PPG Industries Company Profile
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.
Featured Story: Understanding Average Daily Trade Volume
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.