PPG Industries (NYSE:PPG) Issues Q1 2022 Earnings Guidance

PPG Industries (NYSE:PPGGet Rating) updated its first quarter 2022 earnings guidance on Thursday. The company provided EPS guidance of $1.10-$1.20 for the period, compared to the consensus EPS estimate of $1.36. The company issued revenue guidance of -. PPG Industries also updated its Q1 guidance to $1.10-$1.20 EPS.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PPG. Citigroup boosted their target price on shares of PPG Industries from $110.00 to $139.00 in a research report on Thursday, December 15th. The Goldman Sachs Group assumed coverage on shares of PPG Industries in a report on Thursday, October 13th. They issued a buy rating and a $145.00 price objective on the stock. StockNews.com raised shares of PPG Industries from a hold rating to a buy rating in a report on Thursday, October 20th. Northcoast Research assumed coverage on shares of PPG Industries in a report on Thursday, October 13th. They issued a neutral rating on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of PPG Industries from $118.00 to $115.00 and set an equal weight rating on the stock in a report on Monday, January 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $133.06.

PPG Industries Price Performance

Shares of NYSE PPG opened at $131.00 on Friday. The firm has a 50-day simple moving average of $129.53 and a 200-day simple moving average of $123.83. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18. The company has a quick ratio of 1.03, a current ratio of 1.52 and a debt-to-equity ratio of 1.05. PPG Industries has a 52 week low of $107.06 and a 52 week high of $159.50.

PPG Industries (NYSE:PPGGet Rating) last issued its earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.12 billion. PPG Industries had a net margin of 5.81% and a return on equity of 22.95%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 earnings per share. On average, equities analysts predict that PPG Industries will post 6.8 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 17th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, February 16th. PPG Industries’s dividend payout ratio (DPR) is 57.27%.

Institutional Investors Weigh In On PPG Industries

A number of hedge funds have recently modified their holdings of PPG. Parkside Financial Bank & Trust boosted its stake in shares of PPG Industries by 45.8% in the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 87 shares during the period. Achmea Investment Management B.V. purchased a new position in shares of PPG Industries during the first quarter worth approximately $40,000. Salem Investment Counselors Inc. grew its position in PPG Industries by 17.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 668 shares of the specialty chemicals company’s stock valued at $88,000 after buying an additional 100 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in PPG Industries in the 1st quarter valued at $200,000. Finally, Lumature Wealth Partners LLC purchased a new position in PPG Industries in the 1st quarter valued at $211,000. Hedge funds and other institutional investors own 80.04% of the company’s stock.

PPG Industries Company Profile

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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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