PPG Industries (NYSE:PPG) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

PPG Industries (NYSE:PPG) posted its quarterly earnings data on Thursday. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04), Zacks reports. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%.

PPG Industries Stock Up 0.3 %

Shares of PPG Industries stock traded up $0.41 on Thursday, reaching $122.79. 2,768,287 shares of the company were exchanged, compared to its average volume of 2,080,231. The company has a market capitalization of $28.49 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 1.93 and a beta of 1.24. PPG Industries has a one year low of $113.00 and a one year high of $145.60. The company has a 50-day moving average of $121.25 and a 200 day moving average of $124.58. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Mizuho cut their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $149.23.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.