PPG Industries (NYSE:PPG) Releases Q3 Earnings Guidance

PPG Industries (NYSE:PPG) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.57-1.67 for the period, compared to the Thomson Reuters consensus estimate of $1.68. PPG Industries also updated its FY 2019 guidance to $6.33-6.51 EPS.

Shares of NYSE:PPG opened at $117.51 on Friday. PPG Industries has a twelve month low of $94.37 and a twelve month high of $121.29. The stock has a 50 day simple moving average of $115.25. The company has a current ratio of 1.43, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The firm has a market cap of $27.74 billion, a P/E ratio of 19.85, a PEG ratio of 2.02 and a beta of 1.23.

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 Thomson Reuters’ consensus estimate of $1.83 by $0.02. PPG Industries had a net margin of 8.07% and a return on equity of 28.24%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the company earned $1.90 EPS. PPG Industries’s quarterly revenue was down 2.6% on a year-over-year basis. On average, research analysts anticipate 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. Investors of record on Monday, August 12th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.74%. This is an increase from PPG Industries’s previous quarterly dividend of $0.48. PPG Industries’s dividend payout ratio is 32.43%.

PPG has been the topic of several research reports. Barclays increased their price target on shares of from $65.00 to $100.00 and gave the stock an overweight rating in a report on Friday. KeyCorp set a $37.00 price target on shares of SeaWorld Entertainment and gave the stock a buy rating in a report on Friday, April 12th. Buckingham Research increased their price target on shares of United Continental from $111.00 to $120.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research note on Thursday, July 4th. Finally, Deutsche Bank raised their price objective on shares of Keysight Technologies from $100.00 to $120.00 and gave the stock a buy rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. PPG Industries currently has a consensus rating of Buy and an average price target of $120.76.

In other news, VP William E. Schaupp sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $106.88, for a total transaction of $267,200.00. Following the transaction, the vice president now owns 4,389 shares in the company, valued at approximately $469,096.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Victoria F. Haynes sold 674 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $107.16, for a total value of $72,225.84. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

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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