PPG Industries (NYSE:PPG) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.57-1.67 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.68. PPG Industries also updated its FY 2019 guidance to $6.33-6.51 EPS.
PPG stock traded up $1.40 during midday trading on Friday, hitting $118.40. The stock had a trading volume of 15,075 shares, compared to its average volume of 1,054,491. The firm has a market capitalization of $27.53 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.05 and a beta of 1.23. PPG Industries has a 52 week low of $94.37 and a 52 week high of $121.29. The stock’s 50-day simple moving average is $115.02. The company has a quick ratio of 0.97, a current ratio of 1.40 and a debt-to-equity ratio of 0.92.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.02. PPG Industries had a return on equity of 28.72% and a net margin of 8.67%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the company posted $1.90 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts forecast that PPG Industries will post 6.29 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.51 per share. 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 1.72%. PPG Industries’s dividend payout ratio is currently 32.43%.
Several research analysts have issued reports on the company. JPMorgan Chase & Co. set a $45.00 price objective on Ciena and gave the stock a buy rating in a research note on Friday, March 22nd. BMO Capital Markets reiterated a hold rating and set a $45.00 price objective on shares of SAP in a research note on Wednesday, May 1st. Societe Generale assumed coverage on PPG Industries in a research note on Tuesday, July 9th. They set a buy rating and a $138.00 price objective for the company. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research note on Thursday, July 4th. Finally, Deutsche Bank increased their price objective on Keysight Technologies from $100.00 to $120.00 and gave the stock a buy rating in a research note on Monday, April 22nd. 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 assigned a strong buy rating to the company’s stock. PPG Industries currently has an average rating of Buy and a consensus price target of $119.90.
In related news, Director Victoria F. Haynes sold 674 shares of PPG Industries stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $107.16, for a total value of $72,225.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William E. Schaupp sold 2,500 shares of PPG Industries stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $106.88, for a total value of $267,200.00. Following the completion of the sale, the vice president now owns 4,389 shares of the company’s stock, valued at $469,096.32. The disclosure for this sale can be found here. Company 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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