PPG Industries (PPG) to Release Quarterly Earnings on Wednesday

PPG Industries (NYSE:PPG) is set to release its earnings data after the market closes on Wednesday, October 16th. Analysts expect PPG Industries to post earnings of $2.16 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.48 by $0.02. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.25 EPS. 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 Stock Performance

PPG stock opened at $128.25 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The firm has a market cap of $30.07 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.72 and a beta of 1.26. The firm has a 50-day simple moving average of $126.09 and a two-hundred day simple moving average of $129.47. PPG Industries has a one year low of $118.07 and a one year high of $151.16.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. PPG Industries’s dividend payout ratio is presently 45.95%.

Wall Street Analysts Forecast Growth

PPG has been the subject of several recent analyst reports. BMO Capital Markets lowered their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Barclays lowered their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. UBS Group upped their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Bank of America cut their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. 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 report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Company Profile

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.