PPG Industries (NYSE:PPG) Issues Q3 Earnings Guidance

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.

Shares of PPG Industries stock opened at $117.51 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.43 and a quick ratio of 0.97. PPG Industries has a 52-week low of $94.37 and a 52-week high of $121.29. The company has a market capitalization of $27.62 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.23. The business has a 50 day moving average price of $115.25.

PPG Industries (NYSE:PPG) last issued its earnings results 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 net margin of 8.07% and a return on equity of 28.24%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business earned $1.90 earnings per share. The business’s revenue was down 2.6% on a year-over-year basis. Analysts forecast that PPG Industries will post 6.43 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be issued a $0.51 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.74%. PPG Industries’s dividend payout ratio (DPR) is currently 32.43%.

Several research analysts have recently issued reports on PPG shares. BMO Capital Markets restated a hold rating and issued a $45.00 target price on shares of SAP in a report on Wednesday, May 1st. SunTrust Banks lifted their price target on shares of Crowdstrike to $80.00 and gave the company a hold rating in a report on Friday. Deutsche Bank lifted their price target on shares of Keysight Technologies from $100.00 to $120.00 and gave the company a buy rating in a report on Monday, April 22nd. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a report on Thursday, July 4th. Finally, Buckingham Research lifted their price target on shares of United Continental from $111.00 to $120.00 and gave the company a buy rating in a report on Tuesday. One equities 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 issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $120.76.

In other PPG Industries news, VP William E. Schaupp sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $106.88, for a total transaction of $267,200.00. Following the completion of the transaction, the vice president now owns 4,389 shares of the company’s stock, valued at $469,096.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Victoria F. Haynes sold 674 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $107.16, for a total value of $72,225.84. 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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Earnings History and Estimates for PPG Industries (NYSE:PPG)

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