PPG Industries (NYSE:PPG) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

PPG Industries (NYSE:PPG) issued its quarterly earnings data on Thursday. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.06, RTT News reports. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.89 billion. PPG Industries had a net margin of 8.00% and a return on equity of 28.90%. PPG Industries’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.45 earnings per share. PPG Industries updated its FY 2019 guidance to $6.17-6.27 EPS and its FY19 guidance to $6.17-6.27 EPS.

NYSE PPG opened at $124.23 on Friday. The firm’s fifty day simple moving average is $116.57 and its two-hundred day simple moving average is $114.84. The company has a current ratio of 1.49, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. PPG Industries has a 12-month low of $94.41 and a 12-month high of $124.90. The firm has a market capitalization of $28.65 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.20 and a beta of 1.23.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.64%. PPG Industries’s dividend payout ratio is currently 34.46%.

Several brokerages recently issued reports on PPG. Barclays lifted their price objective on shares of PPG Industries from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. ValuEngine lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada lifted their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. UBS Group lifted their price objective on shares of PPG Industries from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday. Finally, Societe Generale began coverage on shares of PPG Industries in a report on Tuesday, July 9th. They set a “buy” rating and a $138.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. PPG Industries has an average rating of “Hold” and an average target price of $125.88.

In other news, CEO Michael H. Mcgarry sold 12,000 shares of PPG Industries stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $120.00, for a total transaction of $1,440,000.00. Following the completion of the sale, the chief executive officer now directly owns 131,434 shares in the company, valued at $15,772,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Vadlamannati Ramaprasad sold 13,904 shares of PPG Industries stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $117.12, for a total transaction of $1,628,436.48. Following the sale, the vice president now owns 29,617 shares of the company’s stock, valued at $3,468,743.04. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by 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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Earnings History for PPG Industries (NYSE:PPG)

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