Research Analysts Set Expectations for PPG Industries Inc.’s Q3 2016 Earnings (PPG)
PPG Industries Inc. (NYSE:PPG) – Investment analysts at Seaport Global Securities dropped their Q3 2016 earnings per share (EPS) estimates for shares of PPG Industries in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Harrison now expects that the firm will post earnings per share of $1.56 for the quarter, down from their prior estimate of $1.73. Seaport Global Securities currently has a “Buy” rating and a $130.00 price target on the stock. Seaport Global Securities also issued estimates for PPG Industries’ Q4 2016 earnings at $1.32 EPS, FY2016 earnings at $6.04 EPS, Q1 2017 earnings at $1.41 EPS, Q2 2017 earnings at $1.91 EPS, Q3 2017 earnings at $1.82 EPS, Q4 2017 earnings at $1.50 EPS and FY2017 earnings at $6.64 EPS.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 21st. The company reported $1.85 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.85. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.17 billion. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 earnings per share.
Other research analysts have also issued reports about the stock. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $111.00 price target (down from $119.00) on shares of PPG Industries in a research note on Thursday. Zacks Investment Research lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a research note on Friday, June 17th. RBC Capital Markets restated an “outperform” rating and set a $106.00 price objective (down from $125.00) on shares of PPG Industries in a research note on Wednesday. Finally, Jefferies Group restated a “buy” rating and set a $129.00 price objective (up from $127.00) on shares of PPG Industries in a research note on Monday, July 25th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. PPG Industries presently has an average rating of “Buy” and a consensus price target of $115.46.
PPG Industries (NYSE:PPG) opened at 92.12 on Wednesday. The firm has a 50-day moving average of $102.02 and a 200-day moving average of $106.53. The stock has a market capitalization of $24.53 billion, a PE ratio of 17.02 and a beta of 1.47. PPG Industries has a 1-year low of $88.37 and a 1-year high of $117.00.
In related news, VP Timothy M. Knavish sold 9,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $104.08, for a total value of $967,944.00. Following the transaction, the vice president now owns 11,806 shares of the company’s stock, valued at $1,228,768.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Viktoras R. Sekmakas sold 40,950 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $106.64, for a total transaction of $4,366,908.00. Following the completion of the transaction, the insider now directly owns 69,044 shares in the company, valued at approximately $7,362,852.16. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Cable Hill Partners LLC increased its position in PPG Industries by 1.9% in the second quarter. Cable Hill Partners LLC now owns 1,346 shares of the company’s stock worth $142,000 after buying an additional 25 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of PPG Industries during the first quarter valued at $144,000. Invictus RG purchased a new position in shares of PPG Industries during the first quarter valued at $147,000. Ropes Wealth Advisors LLC increased its position in shares of PPG Industries by 2.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,697 shares of the company’s stock valued at $177,000 after buying an additional 37 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its position in shares of PPG Industries by 3.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,944 shares of the company’s stock valued at $202,000 after buying an additional 59 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.
About PPG Industries
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.
Receive News & Stock Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related stocks with our FREE daily email newsletter.