PPG Industries, Inc. (NYSE:PPG) – Equities research analysts at SunTrust Banks issued their Q1 2020 earnings per share estimates for shares of PPG Industries in a research report issued to clients and investors on Thursday, January 16th. SunTrust Banks analyst J. Sheehan anticipates that the specialty chemicals company will post earnings of $1.38 per share for the quarter. SunTrust Banks also issued estimates for PPG Industries’ Q2 2020 earnings at $1.92 EPS, Q3 2020 earnings at $1.77 EPS, Q4 2020 earnings at $1.53 EPS, FY2020 earnings at $6.60 EPS and FY2021 earnings at $7.19 EPS.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 16th. The specialty chemicals company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.03). PPG Industries had a net margin of 8.21% and a return on equity of 28.55%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the business earned $1.15 EPS. PPG Industries’s revenue for the quarter was up .7% compared to the same quarter last year.
A number of other brokerages have also weighed in on PPG. Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating and set a $124.00 price objective for the company. in a research note on Wednesday, October 16th. Deutsche Bank raised their price objective on PPG Industries from $135.00 to $148.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Berenberg Bank started coverage on PPG Industries in a research note on Wednesday, November 6th. They set a “buy” rating and a $150.00 price objective for the company. BMO Capital Markets raised their price objective on PPG Industries from $113.00 to $129.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Robert W. Baird raised their price objective on PPG Industries from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $130.56.
Shares of NYSE PPG opened at $125.89 on Monday. PPG Industries has a fifty-two week low of $100.90 and a fifty-two week high of $134.36. The business has a 50 day moving average price of $131.13 and a two-hundred day moving average price of $121.95. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.02. The firm has a market cap of $30.38 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 2.08 and a beta of 1.24.
A number of large investors have recently added to or reduced their stakes in PPG. Prime Capital Investment Advisors LLC bought a new stake in shares of PPG Industries in the 3rd quarter worth approximately $25,000. Atwater Malick LLC bought a new stake in shares of PPG Industries in the 3rd quarter worth approximately $42,000. Burt Wealth Advisors bought a new stake in shares of PPG Industries in the 3rd quarter worth approximately $42,000. Bridger Capital Management LLC bought a new stake in shares of PPG Industries in the 3rd quarter worth approximately $45,000. Finally, Hoey Investments Inc. bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $53,000. 77.07% of the stock is currently owned by institutional investors.
In other PPG Industries news, CEO Michael H. Mcgarry sold 30,450 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $130.00, for a total transaction of $3,958,500.00. Following the transaction, the chief executive officer now owns 149,884 shares of the company’s stock, valued at approximately $19,484,920. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, February 20th. PPG Industries’s dividend payout ratio is presently 32.80%.
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.
Further Reading: The limitations of an equal weight rating
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