PPG Industries (NYSE:PPG) updated its first quarter 2020
Pre-Market earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.32-1.42 for the period, compared to the Thomson Reuters consensus estimate of $1.53. PPG Industries also updated its FY 2020
Pre-Market guidance to 6.47-6.78 EPS.
A number of research firms have commented on PPG. Goldman Sachs Group cut PPG Industries from a conviction-buy rating to a buy rating in a research note on Monday, November 18th. Morgan Stanley reiterated an equal weight rating and issued a $130.00 price target on shares of PPG Industries in a research note on Friday, November 1st. JPMorgan Chase & Co. upgraded PPG Industries from an underweight rating to a neutral rating and increased their price target for the company from $108.00 to $120.00 in a research note on Friday, October 18th. Robert W. Baird increased their price target on PPG Industries from $130.00 to $145.00 and gave the company an outperform rating in a research note on Thursday, December 5th. Finally, Berenberg Bank began coverage on PPG Industries in a research note on Wednesday, November 6th. They issued a buy rating and a $150.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $130.56.
Shares of NYSE:PPG traded down $3.59 during trading on Thursday, hitting $127.15. The stock had a trading volume of 1,476,130 shares, compared to its average volume of 1,186,618. PPG Industries has a 12-month low of $100.87 and a 12-month high of $134.36. The stock has a market capitalization of $30.72 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 1.02. The stock has a 50-day simple moving average of $131.21 and a two-hundred day simple moving average of $121.62.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 16th. The specialty chemicals company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.03). PPG Industries had a return on equity of 28.36% and a net margin of 8.00%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the previous year, the business earned $1.15 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts forecast that PPG Industries will post 6.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, January 21st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.60%. PPG Industries’s payout ratio is 34.46%.
In other news, CEO Michael H. Mcgarry sold 30,450 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $130.00, for a total value of $3,958,500.00. Following the completion of the transaction, the chief executive officer now directly owns 149,884 shares in the company, valued at $19,484,920. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael H. Mcgarry sold 11,916 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $125.00, for a total value of $1,489,500.00. Following the completion of the transaction, the chief executive officer now owns 131,350 shares of the company’s stock, valued at $16,418,750. 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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