Jefferies Group Comments on PPG Industries, Inc.’s Q1 2018 Earnings (PPG)

PPG Industries, Inc. (NYSE:PPG) – Investment analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for shares of PPG Industries in a research note issued on Monday, Zacks Investment Research reports. Jefferies Group analyst L. Alexander anticipates that the specialty chemicals company will post earnings per share of $1.40 for the quarter. Jefferies Group has a “Buy” rating and a $135.00 price objective on the stock. Jefferies Group also issued estimates for PPG Industries’ Q2 2018 earnings at $1.96 EPS, Q3 2018 earnings at $1.74 EPS, Q4 2018 earnings at $1.45 EPS, FY2019 earnings at $7.35 EPS and FY2020 earnings at $8.05 EPS.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. PPG Industries had a return on equity of 26.76% and a net margin of 10.98%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. PPG Industries’s revenue was up 7.8% compared to the same quarter last year.

Several other brokerages have also recently issued reports on PPG. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada restated a “hold” rating and set a $115.00 target price on shares of PPG Industries in a report on Wednesday, January 17th. Credit Suisse Group set a $119.00 target price on PPG Industries and gave the stock a “buy” rating in a report on Friday, October 20th. Raymond James Financial assumed coverage on PPG Industries in a report on Tuesday, December 19th. They set an “outperform” rating and a $139.00 target price for the company. Finally, Citigroup upped their target price on PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. PPG Industries has a consensus rating of “Hold” and an average price target of $123.75.

Shares of PPG Industries (NYSE:PPG) traded up $1.76 during trading hours on Tuesday, reaching $116.32. The company had a trading volume of 1,283,813 shares, compared to its average volume of 1,767,504. PPG Industries has a 52 week low of $100.34 and a 52 week high of $122.07. The company has a market capitalization of $29,150.00, a PE ratio of 21.34, a P/E/G ratio of 1.99 and a beta of 1.59. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.26 and a current ratio of 1.65.

Several institutional investors and hedge funds have recently modified their holdings of PPG. G&S Capital LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at $110,000. Cerebellum GP LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at $128,000. SeaCrest Wealth Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at $132,000. Crewe Advisors LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at $136,000. Finally, NuWave Investment Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at $150,000. Hedge funds and other institutional investors own 74.83% of the company’s stock.

PPG Industries announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 14th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.55%. PPG Industries’s dividend payout ratio is presently 33.03%.

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

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