PPG Industries (PPG) Set to Announce Earnings on Wednesday

PPG Industries (NYSE:PPG) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, October 16th. Analysts expect PPG Industries to post earnings of $2.16 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.25 earnings per share. On average, analysts expect PPG Industries to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

PPG Industries Trading Down 1.2 %

Shares of PPG Industries stock opened at $127.20 on Wednesday. The firm’s 50 day moving average is $125.96 and its 200 day moving average is $129.89. The firm has a market capitalization of $29.68 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.76 and a beta of 1.26. PPG Industries has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio is presently 45.95%.

Analysts Set New Price Targets

Several brokerages have issued reports on PPG. Barclays decreased their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Citigroup decreased their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. KeyCorp dropped their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. UBS Group boosted their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada decreased their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.08.

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.