PPG Industries, Inc. (PPG) Expected to Announce Earnings of $1.10 Per Share

Equities analysts expect PPG Industries, Inc. (NYSE:PPG) to announce earnings of $1.10 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for PPG Industries’ earnings, with the lowest EPS estimate coming in at $1.06 and the highest estimate coming in at $1.14. PPG Industries posted earnings of $1.19 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 7.6%. The business is expected to issue its next quarterly earnings results on Thursday, January 17th.

According to Zacks, analysts expect that PPG Industries will report full-year earnings of $5.81 per share for the current year, with EPS estimates ranging from $5.75 to $5.85. For the next fiscal year, analysts forecast that the firm will post earnings of $6.41 per share, with EPS estimates ranging from $6.12 to $6.60. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for PPG Industries.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share (EPS) for the quarter, hitting the 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 during the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the prior year, the company earned $1.52 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year.

PPG has been the subject of several recent research reports. Deutsche Bank upped their price objective on PPG Industries from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, November 1st. Goldman Sachs Group raised PPG Industries from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 29th. Zacks Investment Research cut PPG Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Citigroup raised PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 price objective for the company in a research report on Thursday, November 29th. Finally, Credit Suisse Group set a $115.00 price objective on PPG Industries and gave the stock a “hold” rating in a research report on Monday, October 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $119.00.

A number of hedge funds and other institutional investors have recently modified their holdings of PPG. Cornerstone Wealth Management LLC acquired a new position in PPG Industries during the second quarter valued at approximately $105,000. Raymond James Financial Services Advisors Inc. boosted its position in PPG Industries by 3.9% during the second 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. boosted its position in PPG Industries by 6.9% during the second 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. Comerica Bank boosted its position in PPG Industries by 10.6% during the second quarter. Comerica Bank now owns 137,428 shares of the specialty chemicals company’s stock valued at $14,486,000 after purchasing an additional 13,150 shares during the last quarter. Finally, Smith Asset Management Group LP boosted its position in PPG Industries by 2.0% during the second 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. 78.51% of the stock is owned by hedge funds and other institutional investors.

Shares of PPG stock traded down $2.56 on Friday, hitting $103.23. 1,184,967 shares of the stock were exchanged, compared to its average volume of 1,464,213. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.71 and a quick ratio of 1.22. The stock has a market capitalization of $25.38 billion, a P/E ratio of 17.59, a P/E/G ratio of 2.19 and a beta of 1.38. PPG Industries has a fifty-two week low of $94.37 and a fifty-two week high of $122.07.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 12th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.92 annualized dividend and a yield of 1.86%. PPG Industries’s dividend payout ratio (DPR) 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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