PPG Industries, Inc. (PPG) Expected to Post Earnings of $1.59 Per Share
Wall Street analysts forecast that PPG Industries, Inc. (NYSE:PPG) will announce earnings per share of $1.59 for the current quarter, according to Zacks. Six analysts have provided estimates for PPG Industries’ earnings. The highest EPS estimate is $1.64 and the lowest is $1.44. PPG Industries posted earnings per share of $1.52 in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.6%. The firm is expected to announce its next earnings results on Thursday, October 18th.
On average, analysts expect that PPG Industries will report full-year earnings of $6.21 per share for the current financial year, with EPS estimates ranging from $6.04 to $6.35. For the next year, analysts anticipate that the business will report earnings of $6.96 per share, with EPS estimates ranging from $6.58 to $7.25. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow PPG Industries.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 19th. The specialty chemicals company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.02. PPG Industries had a net margin of 9.87% and a return on equity of 27.36%. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the business posted $1.83 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year.
NYSE:PPG traded up $0.28 during midday trading on Tuesday, reaching $113.27. 998,000 shares of the stock traded hands, compared to its average volume of 1,613,112. PPG Industries has a 12 month low of $100.36 and a 12 month high of $122.07. The company has a quick ratio of 1.22, a current ratio of 1.70 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $27.15 billion, a P/E ratio of 19.23, a P/E/G ratio of 2.16 and a beta of 1.52.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Friday, August 10th were issued a $0.48 dividend. The ex-dividend date was Thursday, August 9th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 1.70%. PPG Industries’s dividend payout ratio is 32.71%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its stake in shares of PPG Industries by 5.3% in the 1st quarter. Wells Fargo & Company MN now owns 3,333,115 shares of the specialty chemicals company’s stock worth $371,975,000 after acquiring an additional 166,490 shares in the last quarter. Alps Advisors Inc. bought a new position in shares of PPG Industries in the 1st quarter worth about $462,000. Victory Capital Management Inc. increased its stake in shares of PPG Industries by 780.2% in the 1st quarter. Victory Capital Management Inc. now owns 35,401 shares of the specialty chemicals company’s stock worth $3,951,000 after acquiring an additional 31,379 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of PPG Industries by 2.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 990,548 shares of the specialty chemicals company’s stock worth $110,546,000 after acquiring an additional 19,854 shares in the last quarter. Finally, ING Groep NV increased its stake in shares of PPG Industries by 119.0% in the 1st quarter. ING Groep NV now owns 10,722 shares of the specialty chemicals company’s stock worth $1,197,000 after acquiring an additional 5,826 shares in the last quarter. Institutional investors and hedge funds own 76.61% 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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