PPG Industries (NYSE:PPG) Updates FY 2019 Earnings Guidance

PPG Industries (NYSE:PPG) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.33-6.51 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.31. PPG Industries also updated its Q3 guidance to $1.57-1.67 EPS.

Shares of PPG opened at $117.51 on Friday. The stock has a 50 day simple moving average of $115.25. The firm has a market cap of $27.74 billion, a PE ratio of 20.16, a P/E/G ratio of 2.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.43 and a quick ratio of 0.97. PPG Industries has a 12-month low of $94.37 and a 12-month high of $121.29.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.02. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.10 billion. PPG Industries had a net margin of 8.07% and a return on equity of 28.24%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS. On average, equities research analysts forecast that PPG Industries will post 6.33 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.74%. This is a boost from PPG Industries’s previous quarterly dividend of $0.48. PPG Industries’s payout ratio is currently 32.43%.

Several equities analysts have recently issued reports on PPG shares. 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. Deutsche Bank lifted 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. Societe Generale started coverage on shares of PPG Industries in a research note on Tuesday, July 9th. They issued a buy rating and a $138.00 price objective on the stock. KeyCorp set a $37.00 price objective on shares of SeaWorld Entertainment and gave the stock a buy rating in a research note on Friday, April 12th. Finally, Buckingham Research lifted their price objective on shares of United Continental from $111.00 to $120.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $120.76.

In other news, Director Victoria F. Haynes sold 674 shares of PPG Industries 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP William E. Schaupp sold 2,500 shares of PPG Industries 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 completion of the transaction, the vice president now directly owns 4,389 shares in the company, valued at $469,096.32. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

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 and Estimates for PPG Industries (NYSE:PPG)

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