Zacks: Brokerages Anticipate PPG Industries, Inc. (PPG) Will Announce Earnings of $1.84 Per Share

Analysts expect PPG Industries, Inc. (NYSE:PPG) to post earnings per share of $1.84 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for PPG Industries’ earnings. The highest EPS estimate is $1.95 and the lowest is $1.80. PPG Industries reported earnings per share of $1.90 during the same quarter last year, which would indicate a negative year over year growth rate of 3.2%. The company is expected to announce its next earnings report on Thursday, July 18th.

According to Zacks, analysts expect that PPG Industries will report full-year earnings of $6.31 per share for the current financial year, with EPS estimates ranging from $6.20 to $6.45. For the next fiscal year, analysts anticipate that the company will report earnings of $6.92 per share, with EPS estimates ranging from $6.50 to $7.34. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover PPG Industries.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.21 by $0.17. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.69 billion. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the company posted $1.39 EPS.

Several brokerages have commented on PPG. Zacks Investment Research downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets raised their target price on shares of PPG Industries from $112.00 to $113.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Barclays raised their target price on shares of PPG Industries from $115.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Buckingham Research raised their target price on shares of PPG Industries from $108.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Finally, Deutsche Bank raised their target price on shares of PPG Industries from $120.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. PPG Industries has an average rating of “Hold” and an average target price of $118.10.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Paragon Capital Management LLC bought a new position in shares of PPG Industries in the first quarter valued at $29,000. Taylor Hoffman Wealth Management bought a new position in shares of PPG Industries in the fourth quarter valued at $27,000. Capital Financial Planning LLC bought a new position in shares of PPG Industries in the fourth quarter valued at $31,000. Zions Bancorporation N.A. bought a new position in shares of PPG Industries in the first quarter valued at $34,000. Finally, Berman Capital Advisors LLC grew its stake in shares of PPG Industries by 49.5% in the first quarter. Berman Capital Advisors LLC now owns 323 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 107 shares in the last quarter. Institutional investors own 79.33% of the company’s stock.

PPG stock traded up $1.77 during mid-day trading on Friday, hitting $113.71. 18,653 shares of the company were exchanged, compared to its average volume of 1,252,257. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.40. The company has a market capitalization of $26.71 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. PPG Industries has a 1-year low of $94.37 and a 1-year 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. The ex-dividend date is Thursday, May 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.69%. PPG Industries’s dividend payout ratio (DPR) is presently 32.43%.

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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