Analysts Expect PPG Industries, Inc. (NYSE:PPG) to Announce $1.57 EPS

Wall Street analysts expect PPG Industries, Inc. (NYSE:PPG) to post $1.57 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for PPG Industries’ earnings, with estimates ranging from $1.47 to $1.76. PPG Industries reported earnings per share of $1.93 in the same quarter last year, which indicates a negative year over year growth rate of 18.7%. The company is scheduled to report its next earnings results on Monday, October 18th.

According to Zacks, analysts expect that PPG Industries will report full year earnings of $6.99 per share for the current year, with EPS estimates ranging from $6.70 to $7.40. For the next financial year, analysts forecast that the company will post earnings of $8.73 per share, with EPS estimates ranging from $8.05 to $9.05. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow PPG Industries.

PPG Industries (NYSE:PPG) last posted its earnings results on Sunday, July 18th. The specialty chemicals company reported $1.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.19 by ($0.25). PPG Industries had a net margin of 9.71% and a return on equity of 29.65%. The firm had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis.

Several research firms have recently weighed in on PPG. Susquehanna Bancshares raised PPG Industries from a “neutral” rating to a “positive” rating and set a $163.36 target price for the company in a report on Monday, July 26th. Susquehanna raised PPG Industries from a “neutral” rating to a “positive” rating and boosted their target price for the company from $115.00 to $190.00 in a report on Monday, July 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, September 8th. Royal Bank of Canada dropped their target price on PPG Industries from $183.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 8th. Finally, BMO Capital Markets dropped their target price on PPG Industries from $197.00 to $189.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 21st. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, PPG Industries currently has an average rating of “Buy” and a consensus target price of $171.55.

Large investors have recently made changes to their positions in the business. KB Financial Partners LLC grew its holdings in PPG Industries by 131.9% during the 2nd quarter. KB Financial Partners LLC now owns 211 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 120 shares during the last quarter. BDO Wealth Advisors LLC lifted its stake in shares of PPG Industries by 70.7% during the 1st quarter. BDO Wealth Advisors LLC now owns 227 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 94 shares during the period. Sandy Spring Bank lifted its stake in shares of PPG Industries by 78.5% during the 2nd quarter. Sandy Spring Bank now owns 232 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 102 shares during the period. Blume Capital Management Inc. purchased a new position in shares of PPG Industries during the 1st quarter worth $38,000. Finally, Concord Wealth Partners purchased a new position in shares of PPG Industries during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 78.88% of the company’s stock.

Shares of PPG Industries stock traded down $0.65 on Tuesday, hitting $145.66. The stock had a trading volume of 853,923 shares, compared to its average volume of 1,312,765. PPG Industries has a 52-week low of $116.95 and a 52-week high of $182.97. The company has a current ratio of 1.36, a quick ratio of 0.95 and a debt-to-equity ratio of 1.00. The stock has a market cap of $34.57 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 1.00 and a beta of 1.13. The company’s 50 day moving average price is $160.71 and its 200 day moving average price is $164.65.

The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Monday, August 9th. This is a boost from PPG Industries’s previous quarterly dividend of $0.54. PPG Industries’s dividend payout ratio is 41.40%.

About PPG Industries

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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

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