$1.37 Earnings Per Share Expected for PPG Industries, Inc. (NYSE:PPG) This Quarter

Wall Street brokerages expect PPG Industries, Inc. (NYSE:PPG) to post $1.37 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for PPG Industries’ earnings, with estimates ranging from $1.33 to $1.44. PPG Industries reported earnings per share of $1.15 in the same quarter last year, which suggests a positive year over year growth rate of 19.1%. The business is expected to report its next earnings report on Thursday, January 16th.

On average, analysts expect that PPG Industries will report full year earnings of $6.24 per share for the current fiscal year, with EPS estimates ranging from $6.15 to $6.30. For the next year, analysts expect that the firm will post earnings of $6.80 per share, with EPS estimates ranging from $6.60 to $7.10. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow PPG Industries.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, October 17th. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.06. PPG Industries had a return on equity of 28.90% and a net margin of 8.00%. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the company earned $1.45 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year.

A number of brokerages have weighed in on PPG. Citigroup lowered their target price on PPG Industries from $136.00 to $133.00 and set a “buy” rating for the company in a report on Monday, September 9th. Societe Generale began coverage on PPG Industries in a report on Tuesday, July 9th. They issued a “buy” rating and a $138.00 target price for the company. ValuEngine downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. SunTrust Banks reiterated a “hold” rating and issued a $123.00 target price on shares of PPG Industries in a report on Friday, July 19th. They noted that the move was a valuation call. Finally, Barclays lifted their target price on PPG Industries from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. PPG Industries has a consensus rating of “Hold” and a consensus price target of $126.00.

In other PPG Industries news, CEO Michael H. Mcgarry sold 12,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $120.00, for a total value of $1,440,000.00. Following the transaction, the chief executive officer now owns 131,434 shares of the company’s stock, valued at $15,772,080. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of PPG. National Pension Service raised its stake in shares of PPG Industries by 14.2% in the second quarter. National Pension Service now owns 343,543 shares of the specialty chemicals company’s stock valued at $40,095,000 after buying an additional 42,696 shares during the period. Comerica Bank raised its stake in shares of PPG Industries by 1.3% during the 2nd quarter. Comerica Bank now owns 106,722 shares of the specialty chemicals company’s stock valued at $12,445,000 after purchasing an additional 1,350 shares during the period. BB&T Corp raised its stake in shares of PPG Industries by 4.5% during the 2nd quarter. BB&T Corp now owns 36,179 shares of the specialty chemicals company’s stock valued at $4,223,000 after purchasing an additional 1,571 shares during the period. Trexquant Investment LP bought a new stake in shares of PPG Industries during the 2nd quarter valued at $2,101,000. Finally, HMS Capital Management LLC bought a new stake in shares of PPG Industries during the 2nd quarter valued at $137,000. 77.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of PPG opened at $124.23 on Friday. PPG Industries has a 1 year low of $94.41 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.49 and a quick ratio of 1.01. The company has a market capitalization of $28.65 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.20 and a beta of 1.23. The business has a 50-day moving average of $116.57 and a 200-day moving average of $114.84.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.64%. PPG Industries’s payout ratio is 34.46%.

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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