PPG Industries (NYSE:PPG) Updates Q1 Earnings Guidance

PPG Industries (NYSE:PPG) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.32-1.42 for the period, compared to the Thomson Reuters consensus estimate of $1.53. PPG Industries also updated its FY 2020
Pre-Market guidance to 6.47-6.78 EPS.

Shares of NYSE:PPG traded down $3.46 during trading on Thursday, hitting $127.28. The company’s stock had a trading volume of 1,600,548 shares, compared to its average volume of 1,186,618. The company has a market capitalization of $30.72 billion, a PE ratio of 21.50, a PEG ratio of 2.06 and a beta of 1.24. PPG Industries has a fifty-two week low of $100.87 and a fifty-two week high of $134.36. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.08 and a current ratio of 1.49. The stock’s 50-day moving average price is $131.21 and its two-hundred day moving average price is $121.62.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 16th. The specialty chemicals company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.03). PPG Industries had a net margin of 8.00% and a return on equity of 28.36%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the business earned $1.15 EPS. PPG Industries’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts predict that PPG Industries will post 6.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, January 21st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.60%. PPG Industries’s dividend payout ratio (DPR) is currently 34.46%.

A number of brokerages recently issued reports on PPG. Wells Fargo & Co lifted their price target on shares of PPG Industries from $140.00 to $155.00 and gave the stock an overweight rating in a research note on Wednesday. Goldman Sachs Group lowered shares of PPG Industries from a conviction-buy rating to a buy rating in a research note on Monday, November 18th. Robert W. Baird lifted their price target on shares of PPG Industries from $130.00 to $145.00 and gave the stock an outperform rating in a research note on Thursday, December 5th. Zacks Investment Research lowered shares of PPG Industries from a hold rating to a sell rating and set a $124.00 price target for the company. in a research note on Wednesday, October 16th. Finally, Morgan Stanley restated an equal weight rating and issued a $130.00 price target on shares of PPG Industries in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $130.56.

In other PPG Industries news, CEO Michael H. Mcgarry sold 11,916 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $125.00, for a total transaction of $1,489,500.00. Following the completion of the transaction, the chief executive officer now owns 131,350 shares in the company, valued at approximately $16,418,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael H. Mcgarry sold 30,450 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $130.00, for a total transaction of $3,958,500.00. Following the transaction, the chief executive officer now directly owns 149,884 shares in the company, valued at approximately $19,484,920. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

PPG Industries Company Profile

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

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