PPG Industries (NYSE:PPG) updated its FY 2019 earnings guidance on Thursday. The company provided EPS guidance of $6.33-6.51 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.31. PPG Industries also updated its Q3 guidance to $1.57-1.67 EPS.
Several research firms recently issued reports on PPG. Deutsche Bank increased their price target on shares of Keysight Technologies from $100.00 to $120.00 and gave the stock a buy rating in a research report on Monday, April 22nd. KeyCorp set a $37.00 price objective on shares of SeaWorld Entertainment and gave the stock a buy rating in a research note on Friday, April 12th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Barclays lowered shares of ASOS from an overweight rating to an equal weight rating in a report on Friday. Finally, Buckingham Research increased their price objective on shares of United Continental from $111.00 to $120.00 and gave the company a buy rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $119.90.
Shares of NYSE PPG opened at $118.08 on Friday. The firm has a 50 day simple moving average of $115.02. PPG Industries has a fifty-two week low of $94.37 and a fifty-two week high of $121.29. The firm has a market capitalization of $27.53 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 2.05 and a beta of 1.23. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.40 and a quick ratio of 0.97.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.02. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.10 billion. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. PPG Industries’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. Equities research analysts anticipate that PPG Industries will post 6.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be issued a $0.51 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.73%. PPG Industries’s dividend payout ratio (DPR) is 32.43%.
In other PPG Industries news, VP William E. Schaupp sold 2,500 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total value of $267,200.00. Following the sale, the vice president now directly owns 4,389 shares in the company, valued at $469,096.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Victoria F. Haynes sold 674 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $107.16, for a total transaction of $72,225.84. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.
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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