PPG Industries Inc. to Post Q3 2016 Earnings of $1.56 Per Share, Jefferies Group Forecasts (PPG)
PPG Industries Inc. (NYSE:PPG) – Equities researchers at Jefferies Group dropped their Q3 2016 EPS estimates for shares of PPG Industries in a note issued to investors on Friday. Jefferies Group analyst L. Alexander now expects that the firm will post earnings of $1.56 per share for the quarter, down from their previous forecast of $1.71. Jefferies Group has a “Buy” rating and a $129.00 price target on the stock. Jefferies Group also issued estimates for PPG Industries’ FY2016 earnings at $5.95 EPS, Q3 2017 earnings at $1.92 EPS, Q4 2017 earnings at $1.22 EPS, FY2017 earnings at $6.65 EPS, FY2018 earnings at $7.40 EPS, FY2019 earnings at $8.20 EPS and FY2020 earnings at $8.90 EPS.
Several other research analysts have also recently weighed in on the company. Deutsche Bank AG cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $115.00 price objective on shares of PPG Industries in a report on Tuesday, September 13th. Seaport Global Securities raised PPG Industries from an “accumulate” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $130.00 in a report on Tuesday, July 26th. Finally, Longbow Research raised PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Thursday, June 23rd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $121.17.
Shares of PPG Industries (NYSE:PPG) opened at 93.85 on Monday. PPG Industries has a 12-month low of $88.37 and a 12-month high of $117.00. The stock has a market cap of $24.99 billion, a PE ratio of 17.34 and a beta of 1.47. The firm has a 50 day moving average price of $103.21 and a 200 day moving average price of $106.84.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.85 earnings per share for the quarter, meeting the consensus estimate of $1.85. PPG Industries had a return on equity of 30.94% and a net margin of 9.57%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.17 billion. During the same quarter last year, the firm posted $1.67 EPS. The company’s revenue was down .9% compared to the same quarter last year.
Large investors have recently bought and sold shares of the company. Central Bank & Trust Co. increased its stake in PPG Industries by 0.5% in the third quarter. Central Bank & Trust Co. now owns 40,006 shares of the company’s stock worth $4,135,000 after buying an additional 195 shares in the last quarter. Independence Advisors LLC increased its stake in PPG Industries by 2.5% in the third quarter. Independence Advisors LLC now owns 30,250 shares of the company’s stock worth $3,127,000 after buying an additional 751 shares in the last quarter. Liberty Capital Management Inc. increased its stake in PPG Industries by 75.9% in the third quarter. Liberty Capital Management Inc. now owns 4,125 shares of the company’s stock worth $421,000 after buying an additional 1,780 shares in the last quarter. New England Research & Management Inc. purchased a new stake in PPG Industries during the third quarter worth approximately $504,000. Finally, Park National Corp OH increased its stake in PPG Industries by 2.4% in the third quarter. Park National Corp OH now owns 4,262 shares of the company’s stock worth $440,000 after buying an additional 100 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.
In other news, insider Viktoras R. Sekmakas sold 40,950 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $106.64, for a total value of $4,366,908.00. Following the completion of the transaction, the insider now owns 69,044 shares of the company’s stock, valued at $7,362,852.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Timothy M. Knavish sold 9,300 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.08, for a total value of $967,944.00. Following the completion of the transaction, the vice president now directly owns 11,806 shares of the company’s stock, valued at approximately $1,228,768.48. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, August 8th. PPG Industries’s dividend payout ratio (DPR) is 29.57%.
PPG Industries Company Profile
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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