PPG Industries (NYSE:PPG) Releases Q2 2021 Earnings Guidance

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PPG Industries (NYSE:PPG) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.150-2.200 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.020. The company issued revenue guidance of -.

PPG stock traded up $5.74 during midday trading on Tuesday, hitting $178.75. The stock had a trading volume of 1,941,940 shares, compared to its average volume of 1,547,037. The company’s 50-day moving average price is $157.53 and its 200 day moving average price is $145.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 1.16. The firm has a market cap of $42.38 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 3.21 and a beta of 1.11. PPG Industries has a 12-month low of $81.43 and a 12-month high of $179.56.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, April 14th. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.31. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.68 billion. PPG Industries had a return on equity of 25.01% and a net margin of 7.85%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 earnings per share. As a group, sell-side analysts anticipate that PPG Industries will post 5.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 11th. Shareholders of record on Monday, May 10th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, May 7th. PPG Industries’s dividend payout ratio (DPR) is 34.73%.

PPG has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of PPG Industries from $150.00 to $160.00 and gave the stock an outperform rating in a research report on Monday, January 25th. Morgan Stanley boosted their price objective on shares of PPG Industries from $147.00 to $175.00 and gave the company an equal weight rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on PPG Industries from $160.00 to $190.00 and gave the company a buy rating in a report on Monday, April 26th. Credit Suisse Group restated a neutral rating and set a $145.00 price target on shares of PPG Industries in a research note on Monday, March 22nd. Finally, Vertical Research raised PPG Industries from a hold rating to a buy rating in a research note on Monday, January 25th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $166.13.

In other PPG Industries news, SVP Vadlamannati Ramaprasad sold 20,956 shares of the business’s stock in a transaction on Tuesday, April 20th. The shares were sold at an average price of $168.84, for a total value of $3,538,211.04. Following the transaction, the senior vice president now owns 28,192 shares in the company, valued at approximately $4,759,937.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is currently owned by company insiders.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Earnings History and Estimates for PPG Industries (NYSE:PPG)

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