PPG Industries (NYSE:PPG) updated its third quarter 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.57-1.67 for the period, compared to the Thomson Reuters consensus estimate of $1.67. PPG Industries also updated its FY 2019 guidance to $6.33-6.51 EPS.
A number of research firms recently issued reports on PPG. KeyCorp set a $37.00 target price on SeaWorld Entertainment and gave the stock a buy rating in a research note on Friday, April 12th. Zacks Investment Research cut GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research note on Thursday, July 4th. Societe Generale began coverage on PPG Industries in a research note on Tuesday, July 9th. They set a buy rating and a $138.00 target price for the company. Deutsche Bank increased their target price on Keysight Technologies from $100.00 to $120.00 and gave the stock a buy rating in a research note on Monday, April 22nd. Finally, ValuEngine cut Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $120.76.
Shares of PPG opened at $117.51 on Friday. The company has a market cap of $27.74 billion, a PE ratio of 20.16, a P/E/G ratio of 2.02 and a beta of 1.23. PPG Industries has a twelve month low of $94.37 and a twelve month high of $121.29. The business’s 50 day simple moving average is $115.25. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 0.92.
PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.02. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.10 billion. PPG Industries had a net margin of 8.07% and a return on equity of 28.24%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $1.90 EPS. Equities research analysts forecast that PPG Industries will post 6.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be paid a dividend of $0.51 per share. 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%.
In other news, Director Victoria F. Haynes sold 674 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $107.16, for a total value of $72,225.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William E. Schaupp sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total value of $267,200.00. Following the completion of the sale, the vice president now directly owns 4,389 shares of the company’s stock, valued at approximately $469,096.32. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.
About PPG Industries
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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