Zacks: Brokerages Anticipate PPG Industries, Inc. (PPG) to Announce $1.20 Earnings Per Share

Equities research analysts forecast that PPG Industries, Inc. (NYSE:PPG) will post earnings of $1.20 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for PPG Industries’ earnings. The highest EPS estimate is $1.29 and the lowest is $1.14. PPG Industries posted earnings per share of $1.19 in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The business is scheduled to issue its next earnings results before the market opens on Thursday, January 18th.

On average, analysts expect that PPG Industries will report full-year earnings of $5.89 per share for the current financial year, with EPS estimates ranging from $5.84 to $5.99. For the next financial year, analysts anticipate that the firm will report earnings of $6.56 per share, with EPS estimates ranging from $6.40 to $6.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover PPG Industries.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the firm posted $1.56 EPS. The business’s revenue was up 3.2% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Raymond James Financial initiated coverage on PPG Industries in a research note on Tuesday, December 19th. They set an “outperform” rating and a $139.00 price target for the company. Citigroup increased their price target on PPG Industries from $112.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. Jefferies Group reiterated a “buy” rating and set a $120.00 price target on shares of PPG Industries in a research note on Thursday, October 19th. Finally, Credit Suisse Group set a $119.00 price target on PPG Industries and gave the stock a “buy” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $120.63.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sullivan Bruyette Speros & Blaney LLC boosted its stake in PPG Industries by 0.4% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock worth $348,000 after purchasing an additional 12 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in PPG Industries by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,663 shares of the specialty chemicals company’s stock worth $403,000 after purchasing an additional 54 shares during the period. Cypress Capital Management LLC boosted its stake in PPG Industries by 1.0% in the 2nd quarter. Cypress Capital Management LLC now owns 5,556 shares of the specialty chemicals company’s stock worth $611,000 after purchasing an additional 56 shares during the period. TCI Wealth Advisors Inc. boosted its stake in PPG Industries by 1.6% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,931 shares of the specialty chemicals company’s stock worth $432,000 after purchasing an additional 61 shares during the period. Finally, Ropes Wealth Advisors LLC boosted its stake in PPG Industries by 5.0% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,743 shares of the specialty chemicals company’s stock worth $192,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

Shares of PPG Industries (NYSE PPG) traded down $0.35 during trading on Thursday, hitting $116.82. The stock had a trading volume of 866,201 shares, compared to its average volume of 1,077,843. PPG Industries has a 1 year low of $94.46 and a 1 year high of $119.85. The stock has a market cap of $29,727.89, a price-to-earnings ratio of 16.96, a PEG ratio of 2.33 and a beta of 1.59. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.

PPG Industries declared that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th were paid a $0.45 dividend. The ex-dividend date was Thursday, November 9th. This represents a $1.80 annualized dividend and a yield of 1.54%. PPG Industries’s dividend payout ratio is currently 26.12%.

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About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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

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