PPG Industries (NYSE:PPG) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

PPG Industries (NYSE:PPG) released its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.17, MarketWatch Earnings reports. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the business earned $1.39 EPS. The business’s revenue was down 4.2% on a year-over-year basis. PPG Industries updated its Q2 guidance to $1.76-1.86 EPS.

Shares of PPG stock traded down $0.64 during trading hours on Friday, hitting $112.24. The company’s stock had a trading volume of 1,272,142 shares, compared to its average volume of 1,187,657. The company has a market capitalization of $26.65 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.40 and a quick ratio of 0.97. PPG Industries has a 12-month low of $94.37 and a 12-month high of $121.29.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is currently 32.43%.

A number of equities research analysts recently weighed in on PPG shares. Zacks Investment Research lowered shares of PPG Industries from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Credit Suisse Group restated a “hold” rating and issued a $115.00 price target on shares of PPG Industries in a report on Thursday, January 17th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $105.00 to $106.00 in a report on Friday, January 18th. SunTrust Banks boosted their price target on shares of PPG Industries to $110.00 and gave the company a “hold” rating in a report on Tuesday, January 22nd. Finally, BMO Capital Markets set a $112.00 price target on shares of PPG Industries and gave the company a “hold” rating in a report on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $118.10.

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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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Earnings History for PPG Industries (NYSE:PPG)

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